Sh5.44 trillion was disbursed to fund development projects by April 2019

Friday June 14 2019

 

By Louis Kolumbia @Collouis1999 news@tz.nationmedia.com

Dar es Salaam.  The government has disbursed Sh5.44 trillion to fund development projects as from July 2018 to April, 2019, Finance and Planning Minister Philip Mpango told the Parliament today.

Dr Mpango made the statement in Parliament on Thursday, June 13, 2019, when tabling the budget for the 2019/20 Fiscal Year.

He said of all the funds Sh4.89 trillion was collected domestically, while Sh547.38 billion was sourced from foreign countries, noting that the money didn’t include funds that have been directly sent to respective projects by donors and development partners.

“These monies will be included in the government financial statements at the end of the financial year,” he told the parliament.

He said during the 2019/20 fiscal year the government is expected to collect Sh32.48 trillion from all sources domestic and foreign.

According to him, as of April 2019, the government had collected Sh12.9 trillion of tax revenue which is equivalent to 87.4 per cent of the projections and Sh2.04 trillion of non-tax revenue which is equal to 122 per cent of the targets.

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“Non-tax revenue surpassed the target because of the strengthening of revenue collections in government institutions using the electronic revenue collection systems, the Government Electronic Payment Gateway,” he said.

According to him, revenue collected from local government authorities accrued to Sh529.25 billion which is equivalent to 72 per cent of the target and that donations and credit incentives amounted to Sh1.70 trillion equals to 86 per cent of the total projections.