7 May 2014

Tanzania: Finance Minister to Unveil 705.1bn/ - Budget

Zanzibar — ZANZIBAR Minister for Finance, Mr Omar Yussuf Mzee is this year expected to unveil the 705.1bn/- national budget for 2014/2015,which is up from last year's 658.5bn/- .

Briefing journalists over the budget, Mzee said the Isles has recorded admirable economic growth from 1,342.6bn/- in 2012 to 1,442.8bn/- last year, and individual income from 1,030,000/- to 1,077,000/- annually.

The Minister attributed good economic growth to agriculture and revenue from the tourism industry.

Agriculture grew from 2.0 per cent to 3.6 per cent, while tourism contribution rose from 0.2 per cent to 6.5 per cent in 2012 and 2013 respectively.

"We had good harvests of rice from 6,372 tonnes in 2012 to 33,655 tonnes in 2013; cloves from 1,755.4 tonnes in 2012 to 4,778 tonnes last year.

The number of tourists rose from 169, 223 in 2012 to 181,301 last year," he said. The Minister said industrial development remains poor as he calls upon investors to invest in the islands.

He said that investment projects increased from 25 in 2012 to 35 last year, creating a total of 1,365 jobs.

Mzee said that there was relief in inflation from 9.4 per cent in 2012 down to 5 per cent last year, attributing to import tax decrease on rice, sugar, and wheat flour, the staple foods of Zanzibar.

Flanked by Ministry executives including the Principal Secretary, Mr Khamis Mussa, the Minister mentioned that 2014/2015 priorities include infrastructure development (roads, and airport) which constitute 48.4 per cent of the development budget, health (9.3 per cent of the budget), education (8.6 per cent of the budget), and water (8 per cent of the budget).

"Workers should not expect pay rises, but they are happy with salary adjustments following implementation scheme of service," said Mzee.


Nairobi Road Named After Tanzanian President

Nairobi has named a road next to State House after Tanzanian President Jakaya Kikwete. see more »

Copyright © 2014 Tanzania Daily News. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.