By George Bukenya
The Permanent Secretary and Secretary to the National Treasury (PSST), Dr. Ramathan Ggoobi, said that Uganda’s exports have increased to USD 13.4 billion in the FY ended 2024/2025, of which USD 10.6 billion came from the export of goods only.
Ggoobi made the revelation while announcing the release of the Third-Quarter Expenditure for the Financial Year 2025/2026 at the Ministry of Finance, Planning, and Economic Development headquarters in Kampala on Friday.
The total release for Quarter Three for FY 2025/26 amounts to Shs 16.537 trillion, of which Wage accounts for Shs 2.175 trillion, Non-Wage, which includes aspects like Parish Development Model, National Medical Stores expenditure takes Shs 2.898 trillion, Government Development Shs 514 billion, External Financing Shs 3.277 trillion, Treasury Operations Shs 7.591 trillion, and Local Revenue Shs 82 billion.
This, according to Dr. Ggoobi led to a Surplus in the country’s Balance of Payment of USD 2.37 billion for the year ending October 2025 from a deficit of USD 683 million in the last financial year. This is the highest in 15-years.
He attributed this high economic performance to the Foreign Direct Investment (FDI) and portfolio inflows, and increased export of goods as well.
“Although there are negative voices by some politicians in the country, Foreign Investors still have a huge faith in Uganda’s economy, and this led to her significant growth registered at 6.3 percent in FY 2024/25 and is projected to grow between 6.5 to 7% this financial year,’’ Dr. Ggoobi explained.
Dr. Ggoobi also said Foreign direct investment (FDI) increased to USD 3.5 billion for the year ending October 2025, while Portfolio inflows were USD 1.7 billion for the year ending October 2025.
The PSST said, the remittances from Ugandans abroad reached USD 1.6 billion (Shs 5.76 trillion) in FY 2024/25, from USD 1.1 billion in FY 2020/21.
He also noted that tourists have renewed optimism, adding that Tourism earnings reached USD 1.7 billion in fiscal year 2024/25.
“This impressive growth is attributed to the sustainable peace, increased competitiveness of Uganda’s tourism industry, Government investment in strategic tourism infrastructure and the impact of our Economic and Commercial Diplomacy interventions,” he said.
Dr. Ggoobi explained that, despite being an election year, Business Executives have maintained optimism in Uganda’s Economy.
As of November 2025, the said Business Tendency Index (BTI) reached 57.2 (above the 50-mark threshold), the Composite Indicator of Economic Activity (CIEA) rose by 0.6 to 183.50 and the Purchasing Managers’ Index (PMI), increased slightly to 53.8 (above the 50 threshold).
Despite the government’s release of funds on time, Ggoobi noted that some of its entities’ delay in paying salaries and pensions, which is against the guidelines issued. Dr. Ggoobi warned errant Accounting Officers to stop delaying the payment of civil servants.
`We release finances on time, and I expect Accounting Officers to also pay civil servants on time. I am working with the Ministry of Public Service to devise appropriate measures and sanctions for those errant Accounting Officers.’’ He said.