Tanzania's National Debt Reaches 91.7tri/-

13 June 2024
Tanzania Daily News (Dar es Salaam)
By Mariam Said

By March 2024, Tanzania's national debt had surged to 91.7tri/-, up from 77tri/- reported the previous year.

This marks a 19.1 percent increase, according to the Minister for Planning and Investment, Professor Kitila Mkumbo.

"The increase in debt is attributed to the government's continued receipt of funds from existing and new loans to finance development projects, including infrastructure such as roads, railways, airports, electricity, and water," Prof Mkumbo informed lawmakers while presenting a National Economic Status Report for the year 2023 in Dodoma on Thursday morning.

ALSO READ: National debt stock in modest decline

The report indicates that domestic debt amounted to 30.7tri/-, while external debt stood at 60.9tri/-.

As of March 2024, commercial banks held 42.0 percent of the domestic debt, up from 34.8 percent in the same period last year. Social security funds held 33.9 percent, followed by individuals at 11.3 percent, and insurance companies at 7.6 percent.

Read the original article on Daily News.

Tagged:
Copyright © 2024 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 500 reports a day from more than 100 news organizations and over 500 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.