Uganda Slashes Foreign Aid Reliance as Oil Flows

Uganda plans to cut its dependence on foreign budget support by 84%. The government announced this major financial shift as it prepares for a new era of oil revenue. The country is about to begin pumping crude oil for the first time. The International Monetary Fund (IMF) states this oil production could significantly speed up Uganda's economic growth. This move suggests Uganda intends to use its own oil income to fund national budgets. Reducing external support would give the government more control over its spending priorities.