Thursday, 8 June 2017

East Africa unveils national budgets

From Daily News, Dar es Salaam
By HENRY LYIMO in Dodoma

IT is budget day for East African region as partner states are set to present their national budget estimates simultaneously today. And, for Tanzania, all roads lead to Dodoma where the government is pencilled to table the national budget estimates for the 2017/18 financial year

The government is expected to increase spending to 32.945tri/- from the current 29.5tri/-, to finance implementation of flagship infrastructural projects aimed at enabling Tanzania to make optimal use of its strategic position as a transport hub in the region.

The 2017/18 budget is aimed at financing the second year of the ambitious Five- Year Development Plan II (2016/17 - 2020/21) which is geared towards heavy investments in infrastructure to transform the nation from an agricultural economy to an industry based economy.

Key development projects with significant multiplier effects to the economy as outlined in the plan include construction of the standard gauge railway (SGR) to link the Dar es Salaam Port with Mwanza on Lake Victoria and Kigoma on Lake Tanganyika, as well as neighbouring Rwanda and Burundi.

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