Thursday, June 14, 2018

Tanzania collects Sh21.89tr in current financial year

Finance and Planning Minister, Dr Phillip

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

By Alawi Masare @AMasare

Dar es Salaam. The government has so far collected 69 per cent of the current Budget, Finance Minister Dr Philip Mpango said on Thursday June 14, 2018 as he tables the government estimates for 2018/19.

He said revenue reached Sh21.89 trillion compared with the total estimates of Sh31.7 trillion budgeted for the current financial year which ends on June 30,2018.

Dr Mpango also revealed that the government managed to borrow Sh4.96 trillion domestically which is 80 per cent of the targets.

According to him, the government borrowed Sh224 billion from external sources which is 14 per cent of the targets.

The minister also said the government had released Sh5.12 trillion for development expenditure by April this year.