Tanzania increases the budget to 19 billion dollars to cover elections and Afcon
The Ministry of Finance of Tanzania has proposed a budget of 49.34 trillion Tanzanian shillings (US $ 19.35 billion) for the fiscal year 2024/2025, which is an increase of 11 percent from 44.4 trillion (US $ 17.41 billion) in 2023/2024.
The East African newspaper has written that a large amount of spending is expected to go towards the preparation of the 2025 general election and the preparation of the 2027 Africa Cup of Nations (Afcon) Finals, which Tanzania will host together with Kenya and Uganda .
According to the budget guidelines announced by the Minister of Finance Mwigulu Nchemba recently, ordinary expenditure will rise to 33.55 trillion Tanzanian Shillings (US $13.15 billion), from 29.17 trillion (US $11.44 billion) in this fiscal year. while the government is preparing for local government elections in October and the 2025 general election .
According to Mr. Nchemba, domestic revenue will contribute 70.1 percent of the budget, which is an increase of 10 percent from the year 2023/2024.
Domestic and foreign non-concessional loans are expected to contribute 9.6 trillion shillings (US D $3.76 billion), to the budget, an increase of 27.4 percent.
Mr. Nchemba has said that the government will put more emphasis on its efforts to increase the collection of local revenue as a sure way to cover budget costs without having a negative impact on the people.
