Musasizi tasks EPRC to drive Uganda’s $500 billion economy vision
With the government targeting a tenfold increase in the size of the economy by 2040, policymakers say high-quality research and data-driven decision-making will be indispensable in delivering inclusive and sustainable growth.
Finance Minister Henry Musasizi has challenged the Economic Policy Research Centre (EPRC) to intensify evidence-based economic research that will guide Uganda’s ambition of growing its economy to US$500 billion by 2040.
The minister made the call on Monday during a meeting with the EPRC Board and Management at the Ministry of Finance, Planning and Economic Development, where he underscored the critical role of research in shaping policies that drive sustainable economic growth.
Musasizi said Uganda’s tenfold economic growth strategy will require sound policy decisions backed by credible research and data.
“Evidence-based research is critical for policymakers to make informed decisions on the socio-economic transformation of the country,” he said, adding that more research is needed to ensure the government’s priority sectors deliver the desired results.
He urged the Centre to focus its work on supporting the government’s strategic growth pillars under the ATMS framework, Agro-industrialisation, Tourism Development, Mineral-Based Industrialisation, including Oil and Gas, and Science, Technology and Innovation, which have been identified as the key drivers of Uganda’s long-term economic transformation.
The minister noted that rigorous policy analysis will be essential in addressing emerging economic challenges, improving public investment decisions and strengthening Uganda’s competitiveness as it pursues its Vision 2040 targets.
Established in 1993 through a partnership between the Ministry of Finance and Makerere University, the Economic Policy Research Centre has grown into Uganda’s leading economic policy think tank, providing research and policy advice to government institutions and development partners.
EPRC Executive Director Dr Sarah Ssewanyana reaffirmed the Centre’s commitment to supporting evidence-informed policymaking and contributing to the country’s development agenda.
“EPRC is committed to continue playing a central role in supporting evidence-informed policy making and contributing to national development strategies,” she said.
Dr Ssewanyana noted that the Centre’s research agenda is fully aligned with the Fourth National Development Plan (NDP IV) and Uganda’s Tenfold Growth Strategy, ensuring that its policy recommendations directly support the country’s economic priorities.
She added that EPRC is strengthening stakeholder engagement to improve the uptake of research findings by policymakers while also investing in the digitisation of research dissemination and knowledge management to expand access to evidence-based policy information.
The meeting highlighted the growing importance of research institutions in supporting Uganda’s drive towards a more productive, industrialised and competitive economy.
With the government targeting a tenfold increase in the size of the economy by 2040, policymakers say high-quality research and data-driven decision-making will be indispensable in delivering inclusive and sustainable growth.
