Matia Kasaija Champions Uganda’s Steady Economic Resilience

Uganda’s financial landscape is advancing steadily despite turbulence at both global and local levels, Finance Minister Matia Kasaija affirmed on Tuesday. Addressing journalists, he revealed that the nation’s gross domestic product had climbed to Shs 226.3 trillion (USD 61.3 billion) for the financial year 2024/25, up from Shs 203.7 trillion (USD 53.9 billion) the previous year.

According to Kasaija, progress has been broad-based, covering agriculture, manufacturing, and service sectors such as information and communication technology. He credited this resilience to government-led interventions, including the Parish Development Model, Uganda Development Programme, and the Small Business Recovery Fund, all of which have energized enterprise and widened opportunities for citizens.

Even with external uncertainties and regional disruptions, Uganda has kept inflation in check. The headline index slowed to 3.8% in July 2025, a slight dip from 3.9% in June, underscoring the stability of prices.

Kasaija stressed that the central bank’s consistent policy rate of 9.75% has played a pivotal role in anchoring growth while strengthening investor trust. He pointed to the vitality of the private sector, citing increased hiring and rising commercial activity.

“Investor optimism remains firm, supported by growing demand for goods and services as well as expanding business orders,” Kasaija remarked. He further noted the Ugandan shilling’s appreciation by 0.5% against the US dollar in July 2025, buoyed by foreign remittances, direct investment, and company earnings.

Concluding his remarks, the Finance Minister encouraged Ugandans to recognize the nation’s upward trajectory. “The economy is advancing. Citizens should act prudently, build their capacity, and seize the opportunities unfolding before them,” he urged.