Uganda's Public Debt Surpasses Shs130tn

16 March 2026
Nile Post (Kampala)
By Sam Ibanda Mugabi

Uganda's public debt has surpassed the Shs130 trillion mark, reaching $34.86 billion (Shs130.844 trillion) by the end of December 2025, according to the Quarterly Debt Statistical Bulletin and Public Debt Portfolio Analysis released by the Ministry of Finance.

This marks an increase from $34.21 billion (Shs128.648 trillion) in September 2025.

The report attributes the rise primarily to increased domestic debt issuances. Domestic debt now accounts for 54.5% of the total, equivalent to $19.02 billion (Shs68.86 trillion), while external debt makes up 45.3%, or $15.84 billion (Shs. 57.33 trillion).

"The total public debt stock increased to $34.86 billion (Shs130.943 trillion) by the end of December 2025, up from $34.21 billion (Shs128.648 trillion) at the end of September 2025," the report stated.

Maris Wanyera, Acting Director for Debt and Cash Policy at the Ministry of Finance, emphasized the importance of transparency in debt management.

She said the bulletin aims to "clarify the country's debt status, enhance policymaking and transparency, and support effective debt management for sustainable economic growth."

The growing debt burden has raised concerns among economists, who warn that continued increases could strain funding for essential services such as healthcare and education.

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