Business 20 May 2026 Daily Monitor (Uganda)
EAC Urged to Translate Integration Pledges into Tangible Citizen Benefits
Ugandan Acting Finance Minister Ramathan Ggoobi has called on East African Community member states to move beyond declarations and deliver concrete economic advantages like jobs and increased trade to their citizens. The 18th Sectoral Council meeting focused on practical implementation of regional integration, including tax harmonization and fiscal coordination. Source: https://www.monitor.co.ug/uganda/news/national/eac-told-to-turn-declarations-into-jobs-trade-gains-5466498
Uganda’s Acting Finance Minister, Mr. Ramathan Ggoobi, has urged East African Community (EAC) member states to ensure that regional integration efforts yield tangible benefits for citizens, such as more trade and employment opportunities.
Speaking at the 18th Sectoral Council on Finance and Economic Affairs in Arusha, Mr. Ggoobi emphasized the need to shift from mere declarations to practical implementation of agreed-upon integration agendas. He stated that the success of the EAC hinges on its ability to translate integration into increased trade, job creation, investment, and improved livelihoods for its people.
The meeting, which Mr. Ggoobi chaired, brought together finance ministers and senior officials from all EAC Partner States. The council agreed on a unified approach to budgeting, tax harmonization, and economic integration for the upcoming fiscal year, with all member states set to deliver their national budgets on June 11, 2026, to enhance fiscal coordination.
A common regional budget theme for FY2026/27 was adopted, focusing on deepening regional integration and economic resilience through enhanced security, domestic revenue mobilization, and digital transformation. Discussions also focused on aligning domestic taxes and resolving inconsistencies that impede intra-regional trade, moving towards a common market that functions effectively in practice.
Officials reviewed the region’s economic performance, noting a continued recovery amidst global uncertainties. Uganda, in particular, experienced growth driven by its agriculture, industry, and services sectors. The council also assessed progress on macroeconomic convergence targets, with Uganda, Tanzania, and Rwanda being recognized for maintaining inflation within agreed limits.
The need for sustainable financing mechanisms for EAC institutions was also a key point of discussion, with calls for faster implementation of reforms to ensure predictable and equitable contributions. The emphasis remains on accelerating the execution of existing commitments rather than making new ones.