Tanzania: MPs Endorse Ministry of Finance's 14.94tr/ - Budget

7 June 2022
Tanzania Daily News (Dar es Salaam)
By Esther Takwa

The Parliament has endorsed a 14.94tr/- budget for next Financial Year as the Ministry of Finance and Planning eyes to mitigate economic challenges resulting from the Covid-19 and ongoing Russia-Ukraine war.

Tabling his Ministry's spending plan in Dodoma, the Minister for Finance and Planning, Dr bMwigulu Nchemba requested lawmakers to approve the budget, saying 13.62tr/- will be set aside for implementation of various development projects while 1.32tr/- is for recurrent.

Additionally, he said that the ministry expects to collect revenue summing up to 1.05tr/-from various sources including dividends, rents, loan repayments, contributions from public institutions and organizations and sales from licenses.

Apart from pandemic and war, other challenges facing the economy were the increase of the cost of implementing development projects and procurement of equipment due to the inflation.

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