By Uganda officially exited the United Nations Least Developed Countries (LDCs) category in 2024, Finance Minister Matia Kasaija has confirmed.
Delivering the National Budget Speech for the Financial Year 2025/2026 at Kololo Independence Grounds on Thursday, Kasaija said the development marks a major economic milestone for the country.
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“Uganda has exited the Least Developed Countries category,” Kasaija told Parliament. “This is a result of sustained economic growth, improved infrastructure, and increased investment in key sectors.”
Uganda’s GDP currently stands at UGX 184.3 trillion (USD 48.8 billion), with the economy growing at an estimated rate of 6.0% in the 2023/2024 financial year. Growth is projected to increase to 6.4% in 2024/2025.
The LDC classification, defined by the United Nations, includes countries with low gross national income, weak human assets, and high economic vulnerability. Uganda’s departure from the group signals significant progress in economic development and governance.
The exit from the LDC group follows years of reforms and investment in agriculture, industry, education, health, and infrastructure, as well as strategic programs like the Parish Development Model.
Kasaija said Uganda is now classified as a lower-middle-income country and remains focused on achieving full middle-income status by 2040.
He noted that the government is prioritising job creation, industrialisation, and increased exports to consolidate the progress made so far.
The announcement came as Kasaija unveiled a UGX 72.1 trillion budget for FY2025/26 under the theme “Full Monetization of Uganda’s Economy through Commercial Agriculture, Industrialization, Expanding and Broadening Services, Digital Transformation and Market Access.”
