Looking ahead, Absa forecasts a modest increase in inflation, reaching the 5% target mid-year before easing back to 4.4% by December. 

However, potential risks, including geopolitical tensions and volatile global financial markets, underscore the need for prudent fiscal policies.

As Uganda navigates these challenges, the message from the International Monetary Fund (IMF) emphasizes fiscal reform, urging a strategic approach to fiscal policy anchored by credible medium-term strategies. 