Finance Minister Musasizi tells Parliament government will cut non-essential spending as shilling weakens

Finance Minister Henry Musasizi told Parliament that the government would cut non-essential spending, including travel, workshops and administrative costs, to support the Bank of Uganda's efforts to stabilise the shilling. He said the currency had fallen from about Shs3,604 to around Shs4,500 per US dollar since March 2026, and urged the public not to panic-buy foreign currency.