Ministry of finance:Uganda's Economy is Growing steadily.

Government has reiterated the urgent need to fast track key priorities on sustaining productivity in the economy  in a bid to grow the GDP from 500 billion from the current 50 billion shillings.

This is according to the minister of state for Finance, Planning and Economic Development in charge of general duties Henry Ariganyira Musasizi.

The Minister was speaking  at the opening ceremony of the two-day  8th High-Level Economic Forum organised by the Ministry of Finance and Economic development at the Kampala Serena Hotel.

The forum that ran  under the theme, "Seizing opportunities for structural transformation to increase productivity and resilience"Advertisement" seeks to  examine how Uganda can seize opportunities for structural transformation to increase productivity and resilience amid uncertainties posed by reduced capital flows, rising global interest rates, global protectionism, and geopolitical tensions as well as long-term risks associated with climate change.

The Minister says Uganda has a high potential to grow its economy mainly in the areas of Value addition through agro processing,mining,science and tourism.

Uganda's economy expanded 4.6% in 2023, lower than the 6.3% registered in 2022. Despite strong performance in mining, construction, and hospitality, lower manufacturing output and contractions in food production and public administration led to the slowdown.

Ramathan Ggoobi the Permanent Secretary, Ministry of Finance, Planning and Economic Development and Secretary to Treasury  says Uganda's economy is currently growing at 6.6 percent which is a positive trend since the outbreak of COVID 19.

He says the government is now going to finance the value chain of key priority areas in order to help grow the sectors,citing the example of tourism that generated Uganda 1.4 billion shillings from tourism last year.

He says investing in tourism will generate the country over 50 billion dollars in the next 15 years.

Discussions held for two days were currently centered at addressing the growth strategies propelling Uganda to achieve inclusive and sustainable economic growth.