The Permanent Secretary Ministry of Finance / Secretary to the Treasury – PSST Dr. Ramadan Ggoobi has dispelled fears of some sections of the public anticipating election-related inflation as a result of the increased spending.
There is a section of the public that has continously said, inflation is on the rise ever since Ugandans went into an election season, a narrative PSST Ggoobi has dismissed as false and misleading.
“I want to assure every Ugandan wherever you are,that there is nothing like election money destabilising us in Uganda. It’s not there,” said the PSST while appearing at the 933kfm #VPN talk show on Saturday morning.
Dr. Ggoobi said the coordination between the Ministry of Finance Planningand Economic Development and Bank of Uganda
has been strengthened, adding that the monetary policy is working effectively and the Governor and his staff are doing a commendable job in managing money supply.
He said inflation for December 2025 declined to 3.1% from 3.2% in November 2025 and 3.4% in October 2025.
“What causes inflation is having too much money chasing few goods,” said the PSST, adding that this is no longer the case in Uganda.
Dr.Ggoobi said investment in the Parish Development Model (PDM) was one of the key strategic decisions that President Yoweri Kaguta Museveni and his Gov’t made because it took the production capabilities to the people who were not in the economy before. He said this has helped in increasing food production.
The Secretary to the Treasury said Government of Uganda has so far sent about Shs 4 trillion for PDM and many people have invested very well contrary to what the elites in Kampala thought.
