Ramathan Ggoobi, the Permanent Secretary in the Ministry of Finance Planning and Economic Development and Secretary to the Treasury (PSST) has cautioned Ugandans against getting overly excited as the country nears the next election cycle.

Ggoobi expressed concern that during heated election periods, many Ugandans tend to abandon their economic activities and focus excessively on politics, which negatively impacts productivity and economic growth. He urged citizens to remain steadfast and ensure that their income-generating activities are not disrupted by the heightened political atmosphere. 

Failure to do so, he warned, could undermine the country’s economic growth prospects at both the micro and macro levels. “The country has invested a lot in job and wealth creation programs, and it is important that these initiatives remain productive despite the busy political season,” Ggoobi emphasized.

553 billion shillings have so far been invested into Emyooga projects, 100 billion shillings in the Small Business Recovery Fund, 495 billion shillings committed to fund the Agriculture Credit Facility-ACF, 168 billion shillings into Uganda Women Entrepreneurship Program-UWEP, and 12.5 billion shillings to the Youth Venture Capital Fund among programs.

He indicates that as a remedy, the Finance Ministry together with the different stakeholders have worked on possible mitigation measures, to ensure that the country’s revenue collection capacity is not bogged down by the campaign and election period.

By Our Reporter

10 February 2025

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