Independence Day: Museveni projects Uganda’s economy to USD 66.9 billion

As Uganda marked 63 years of independence on October 9, 2025, President Yoweri Kaguta Museveni delivered a wide-ranging address at Kololo Ceremonial Grounds, focusing on the country’s progress, stability, and future economic outlook.In his speech, the President paid tribute to the Uganda People's Defence Forces (UPDF) and other security agencies for preserving peace and security—pillars he described as essential for national development. He emphasized that without peace, no meaningful transformation can be achieved.Reflecting on Uganda’s post-independence journey, Museveni recounted how the country’s early decades were marred by political instability and economic collapse. He drew a sharp contrast between the turmoil of the past and the relative stability enjoyed under the National Resistance Movement (NRM) leadership, which he credited with ushering in reconciliation, unity, and long-term planning.Highlighting Uganda’s ongoing economic transformation, Museveni pointed to key achievements in industrialization, value addition, and infrastructure. He singled out projects such as Kiira Motors as evidence that Uganda is entering a new phase—one driven by technology and innovation.Looking ahead, the President projected that Uganda’s economy is expected to grow to USD 66.9 billion by the end of the next financial year, driven by strong growth in sectors such as oil and gas, agriculture, and manufacturing. He said that with oil production commencing soon, the economy could register double-digit growth, provided peace and policy stability are maintained.