State Minister for Planning Amos Lugoloobi has pledged to support Uganda’s efforts to grow its economy to a Gross Domestic Product (GDP) of $500 billion, underscoring the government’s commitment to long-term economic transformation.
Lugoloobi made the remarks shortly after appearing before Parliament’s Appointments Committee for vetting. The committee was chaired by Speaker Jacob Oboth-Oboth and Deputy Speaker Thomas Tayebwa.
He noted that Uganda’s economy is currently growing at an estimated rate of about 7 percent and expressed optimism that the country can achieve double-digit growth of 10 percent in the coming years through sustained investment, effective planning, and improved productivity.
The minister-designate further revealed that the Ministry of Finance projects Uganda will attain upper middle-income status by 2040, provided the country remains on its current development trajectory and successfully implements key economic reforms.
On budget implementation, Lugoloobi pledged to strengthen coherent national planning and enhance the programme-based budgeting approach to ensure that public resources are aligned with government priorities and deliver measurable results.
He emphasized the importance of efficient resource allocation, accountability, and evidence-based planning in accelerating socio-economic development and improving the livelihoods of Ugandans.
Lugoloobi’s remarks come as the government continues to pursue ambitious economic growth targets under its long-term development agenda, with a focus on industrialization, value addition, infrastructure development, and private sector growth.
By Francis Lubega
2nd June 2026
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