Dar es Salaam. The government has on Thursday June 11 said that the country’s debt for the period ending April 2020, has reached Sh55.43 trillion.
Out of which, domestic debt stock amounted to Sh14.85 trillion and external debt stock amounted to Sh40.57 trillion.
The Finance and Planning Minister Dr Philip Mpango has however assured that the debt remains sustainable in the short, medium and long-term.
The Minister said this when he presented to parliament in Dodoma, the economic survey 2019 report and the national development plan 2020/21.
“The Government debt is largely contributed by newly acquired concessional and non-concessional loans to finance development projects that will accelerate the economic growth of the country at large,” said the Minister.
However, Dr Mpango asserted that, results of the Debt Sustainability Analysis (DSA) conducted in December 2019, indicated that the country's public debt remains sustainable in the short, medium and long-term.