Uganda’s Public Debt Climbs to $34.86 Billion, Raising Economic Concerns
KAMPALA, Uganda – Uganda’s public debt has surpassed 130 trillion Ugandan shillings, reaching $34.86 billion by the end of December 2025, according to a report released by the Ministry of Finance. This represents an increase from $34.21 billion recorded in September 2025.
The Quarterly Debt Statistical Bulletin and Public Debt Portfolio Analysis indicates the rise is largely attributable to increased domestic borrowing. Currently, domestic debt comprises 54.5% of the total, amounting to $19.02 billion, while external debt accounts for the remaining 45.3%, or $15.84 billion.
Maris Wanyera, Acting Director for Debt and Cash Policy at the Ministry of Finance, highlighted the importance of transparency in managing the country’s debt. She stated the bulletin is intended to “clarify the country’s debt status, enhance policymaking and transparency, and support effective debt management for sustainable economic growth.”
However, the growing debt burden is prompting concern among economists, who caution that continued increases could potentially divert funding from crucial public services like healthcare and education.
Recent economic reports suggest Uganda’s economic activity has been strengthening, with improving business confidence and favorable demand conditions. However, the escalating debt presents a challenge to sustaining this positive trend. The Ministry of Finance’s report aims to provide clarity and support informed decision-making as the country navigates its debt portfolio.
