As the sun rose over Kololo Independence Grounds, a new dawn broke for Uganda’s economy. Finance Minister Hon. Matia Kasaija unveiled a budget of Shs 72 trillion, a historic milestone in the country’s fiscal journey. But what does this mean for the majority of Uganda’s youth, who have been struggling to break free from the shackles of poverty and unemployment?
The answer lies in the impressive sector growth figures. Agriculture, the backbone of Uganda’s economy, grew by 6.4%. Industry, the engine of growth, expanded by 12.4%. Services, the sector that employs the most youth, surged by 7.3%. These numbers are not just statistics; they represent hope, opportunity, and a chance for the desperate youth to climb out of poverty and into economic stability.
But Uganda’s economic growth story is not just about numbers; it’s about people. It’s about the young men and women who have been denied opportunities due to corruption and income inequalities. It’s about the entrepreneurs who have been stifled by bureaucratic red tape and lack of access to capital. The budget’s focus on commercial agriculture, industrialization, and digital transformation is a testament to the government’s commitment to creating an environment where the youth can thrive.
Uganda’s economic growth outpaces that of its East African counterparts, with Kenya at 5.9%, Tanzania at 5.6%, and Rwanda at 5.1%. But we must not rest on our laurels. We must continue to fight corruption, lower income inequalities, and ensure that the benefits of growth are shared equitably. We must invest in our youth, provide them with skills and opportunities, and empower them to drive growth and development.
The challenges ahead are daunting, but we have the talent, the resources, and the determination to overcome them. We must strengthen our institutions, enhance transparency, and promote inclusive growth. We must create an environment where the youth can start businesses, create jobs, and drive innovation. We must ensure that the economy works for everyone, not just the privileged few.
In conclusion, the Budget 2024/2025 is a beacon of hope for Uganda’s youth. It’s a promise of a brighter future, a future where they can live their dreams, achieve their potential, and contribute to the growth and development of our great nation. Let us work together to ensure that this promise is fulfilled, and that Uganda becomes a shining example of economic independence and prosperity in East Africa.
Cadre Akansasira Junior Victor,
vj.akansasira@gmail.com
0702969211 / 0785499836