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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Tanzanian minister says national debt still manageable 

DAR ES SALAAM Tanzania (Xinhua) -- The Tanzanian government said Tuesday the national debt, equivalent to 31.2 percent of the country’s gross domestic product (GDP), was still manageable.

Philip Mpango, the East African nation’s finance minister, told the National Assembly in Dodoma that Tanzania’s ability to borrow stood at 56 percent of its GDP.

He made the remarks after some Members of the Parliament complained that the national debt has been growing at a fast pace.

Mpango the national debt increased from 22.3 billion U.S. dollars in 2016 to 26 billion dollars in June, 2017.

The official, however, said the government will continue to borrow in order to fund implementation of various development projects.

             

 

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