Uganda's Ministry of Finance identifies weak domestic revenue mobilization as main risk to USD 500 billion economy goal

In an NBS Morning Breeze interview, Uganda’s Ministry of Finance Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi said the economy had reached about USD 70 billion, reducing the expansion needed to meet the government’s USD 500 billion target within 15 years from tenfold to about sevenfold. He identified low domestic revenue mobilization as the greatest risk to the goal, citing a narrow tax base, high informality and the concentration of the tax burden among a small group of compliant taxpayers. Ggoobi called for full implementation of the revenue mobilization strategy and outlined government reforms focused on reducing corruption in procurement, improving project execution and prioritizing concessional borrowing where necessary. Investment will also target value addition in coffee, minerals, fruits and vegetables, beef and dairy. He linked the growth agenda to policy alignment across government under the fourth national development plan and coordination with the private sector, financial sector and development partners.