Tanzania Lawmakers Approve 49.35tri Budget

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The Tanzanian government’s 49.35tri/- budget for 2024/2025 financial year has been approved by the National Assembly on Wednesday with lawmakers giving it resounding approval.

The Speaker of the National Assembly, Dr Tulia Ackson announced that out of 381 Members of Parliament who were present, 362 voted in favour of the budget, which is equivalent to 92.2 per cent.

Eighteen legislators abstained from voting and no one voted against the budget, while 12 MPs were absent, Dr Tulia announced.

It was gathered that fve Members of Parliament from the opposition parties – Mariam Omari (ACT), Shamsi Tamba (CUF) and Nusrat Hanje, Jesca Kishoa, and Salome Makamba (all Chadema) were cheered by their fellow lawmakers for voting YES.

The government has proposed some 11.2 per cent increase in overall government spending to 49.35tri/- in the next financial year, up from 44.39tri/- in the current year.

About 70.1 per cent of the budget will be financed by domestic revenue projected to reach 34.6tri/-, where 29.4tri/- will be tax revenue and 5.2tri/- non-tax revenue.

Growth in domestic revenues will be driven by government’s strengthening of revenue collection, predominantly through encouraging the formalisation of informal businesses.