Musasizi Calls for Spending Discipline to Turn Growth Into Jobs

What the report says

Finance Minister Henry Musasizi has called on Uganda’s government to tighten public spending and strengthen accountability so that economic growth produces more jobs, higher household incomes and broader wealth creation. According to Nile Post, he made the remarks while opening the 12th Parliamentary Committee on Finance, Budget and National Economy retreat at Speke Resort Munyonyo.

Musasizi said Uganda’s economy has continued to expand by more than five percent despite global shocks, but argued that growth alone will not improve living standards unless it leads to productive employment and stronger enterprise development. He linked this to the government’s wider Tenfold Growth Strategy, which seeks to support poverty reduction and a long-term goal of building a $500 billion economy.

The minister said priorities should include better public investment management, stronger internal controls, improved auditing, clearing arrears, better liquidity management, procurement reform and tighter oversight of public assets. He also said implementation and enforcement remain weak even though Uganda’s public financial management systems are largely in place. To reduce reliance on borrowing, he said government is aiming to raise the tax-to-GDP ratio from 13% to 20% over the current term.

Musasizi also announced that accounting officers will sign a Budget Discipline and Accountability Charter this financial year. He urged closer coordination between the finance ministry and Parliament, saying timely information and stronger oversight are needed to ensure public funds are used effectively.