Thursday, June 14, 2018

Tanzania to spend Sh12tr on development expenditure in 2018/19

Mr Mpango enters the parliament on Thursday.

Mr Mpango enters the parliament on Thursday. Photo | Edwin Mjwahuzi 

By Alawi Masare @AMasare

Dar es Salaam. The government has tabled its revenue and expenditure plan on Thursday June 14 saying that Sh12.01 trillion will be used to finance development projects.

The money is about 37 per cent of the Sh32.48 trillion total Budget proposed for 2018/19 financial year.

Out of the Sh12.01 trillion, Sh9.87 trillion is planned to come from the domestic sources.

Sh20.47 trillion is earmarked for recurrent expenditure, according to the Minister for Finance and Planning Dr Philip Mpango.

Tanzania Revenue Authority will collect Sh18 trillion and the government is expected to borrow Sh8.9 trillion from both domestic and external sources through non-concessional (commercial) terms.

Concessional loans from external sources will be Sh2.67 trillion.