Treasury Secretary Ramadan Ggoobi says the economy has shown remarkable resilience and recovery

The government has expressed deep optimism about the economic future, projecting a growth rate of 7 percent in the coming years.

This follows an anticipated 6 percent growth rate for the current financial year, according to Ramathan Ggoobi, the permanent secretary at the Ministry of Finance.

Mr Ggoobi announced the positive outlook as he released the Quarter One budget, highlighting that the economy has fully recovered from the shocks and uncertainties of previous years.

He attributed this growth to robust performance in key sectors such as service delivery, industry, and agriculture.

"The economy has shown remarkable resilience and recovery," said Ggoobi, also the secretary to the Treasury.

"We are confident that with continued investment and policy support, we will achieve a 7 percent growth rate in the subsequent years."

GDP Annual Growth Rate in Uganda averaged 6.88 percent from 2009 until 2024, reaching an all time high of 39.80 percent in the first quarter of 2010 and a record low of -5.60 percent in the second quarter of 2020.

Mr Ggoobi said the strategy is hinged on increased investment and growth in Agro-industry, tourism development, mineral development and science and technology.

Despite these optimistic projections, many Ugandans continue to feel the pinch of economic hardships.

The contrast between the government's positive outlook and the everyday experiences of ordinary citizens raises questions about the distribution of economic benefits and the inclusivity of growth.

The services sector is said to have grown by 6.6 percent, industry sector 5.8 percent agriculture 5.1 percent between 2029 and 2023.