Tanzania to raise its 2016/17 budget spending by almost a third

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Tanzania to raise its 2016/17 budget spending by almost a third

7:41 CAT | 07 Apr 2016

Tanzania plans to raise spending by 31 percent to 29.53 trillion Tanzanian shillings ($13.53 billion) for its 2016/17 fiscal year budget, focusing on infrastructure and industrial projects, the Finance Ministry said in a draft budget proposal.

“Some 17.71 trillion shillings will be allocated to recurrent expenditures, while 11.82 trillion will be set aside for development spending,” Finance and Planning Minister Philip Mpango said in a presentation to parliament seen by Reuters on Thursday.

($1 = 2,182.0000 Tanzanian shillings)

Source: Reuters