Thursday, June 14, 2018

Only 42pc of development funds released so far

Finance and Planning Minister, Dr Phillip

Finance and Planning Minister, Dr Phillip Mpango.  Photo| Edwin Mjwahuzi 

By Samuel Kamndaya @TheCitizenTZ

Dodoma.  The government has released only 42 per cent of the approved development funds for the 2017/18 financial year, the Finance and Planning Minister has said.

Presenting the Economic Survey Report for 2017 and the National Development Plan for 2018/19 in Parliament, the Finance and Planning Minister, Dr Phillip Mpango said on Thursday, June 14, 2018 that until April 2018, the government had Sh5.1 trillion for implementation of development projects.

The money, he said, was equivalent to a total of Sh11.999 trillion that was approved by Parliament for development projects during the 2017/18 financial year.

Of the money, Sh4.35 trillion was sourced domestically while development partners disbursed only Sh775.8 billion – equivalent to 25.6 per cent of their Sh3.03 trillion pledges.