EAC finance ministers harmonise budget reading date, adopt common regional economic agenda
The resolutions were reached during the 18th Meeting of the Sectoral Council on Finance and Economic Affairs [SCFEA], held in Arusha from May 11 to 15
KAMPALA, May 17, 2026 — Finance ministers from the East African Community (EAC) Partner States have agreed to present their national budgets on the same day and adopt a unified regional economic agenda aimed at deepening integration, boosting domestic revenue mobilisation and strengthening economic resilience across the bloc.
The resolutions were reached during the 18th Meeting of the Sectoral Council on Finance and Economic Affairs [SCFEA], held in Arusha from May 11 to 15. The meeting brought together Finance Ministers, Permanent Secretaries and senior economic policymakers from across the region.
Chaired by Uganda’s Acting Minister of Finance, Planning and Economic Development, Dr Ramathan Ggoobi, the meeting adopted a common regional budget theme for the 2026/27 Financial Year: “Deepening Regional Integration and Economic Resilience through Improved Regional Security, Domestic Revenue Mobilisation and Digital Transformation for Inclusive Growth.”
The Ministers further agreed that all EAC Partner States would present their national budgets on June 11, 2026, in a move intended to strengthen fiscal coordination, policy alignment and macroeconomic convergence across the region.
Speaking during the meeting, Dr Ggoobi called for stronger implementation of regional commitments, saying the bloc must shift from policy declarations to practical action that directly benefits citizens.
“Citizens expect concrete benefits from the EAC, including increased trade, jobs, investment and improved livelihoods. We must therefore move beyond declarations and accelerate implementation of agreed regional commitments,” he said.
Dr Ggoobi noted that sustainable financing, stronger institutional capacity and effective coordination remain critical to the success of regional integration efforts.
“We need practical implementation of regional programmes backed by sustainable financing and stronger institutions if regional integration is to deliver meaningful transformation for our people,” he added.
The Council also reviewed the region’s economic outlook, with Partner States reporting continued resilience and recovery despite prevailing global economic uncertainties.
Uganda reported economic growth of 6.7 per cent in the first half of the 2025/26 Financial Year, up from 5.8 per cent recorded during the same period the previous year. Officials attributed the growth to strong performance in the agriculture, industry and services sectors.
The meeting also assessed progress in the harmonisation of domestic taxes and implementation of directives aimed at eliminating inconsistencies affecting trade within the Community.
Partner States reported progress in aligning excise duty frameworks and improving the treatment of locally manufactured goods in line with commitments under the East African Community Customs Union framework.
Ministers additionally reviewed progress towards achieving regional macroeconomic convergence targets, including maintaining inflation below eight per cent, fiscal deficits below three per cent of Gross Domestic Product (GDP), and foreign exchange reserves equivalent to at least 4.5 months of import cover.
The meeting noted that several countries, including Uganda, Tanzania and Rwanda, had maintained inflation within the agreed thresholds, reflecting what Ministers described as prudent macroeconomic management across the region.
The Council also discussed sustainable financing for EAC institutions and called for accelerated implementation of reforms aimed at ensuring predictable and equitable funding mechanisms for regional programmes.
In addition, Ministers considered measures to strengthen public financial management systems across the region through harmonisation of fiscal frameworks, treasury systems, commitment controls and budget credibility mechanisms to enhance economic stability and investor confidence.
The meeting was attended by delegations from all EAC Partner States, alongside officials from the EAC Secretariat, as part of broader efforts to deepen regional integration, strengthen economic resilience and accelerate implementation of the East African Community agenda.
https://thecooperator.news/eac-announces-2026-regional-quality-awards-to-honour-top-enterprises/
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