DAR ES SALAAM Tanzania (Xinhua) --
Tanzanian Minister for Finance and
Planning, Philip Mpango, said on Tuesday the government planned
to increase its expenditure by 3.2 percent in the 2019/2020
financial year compared to the current financial year.
Mpango was tabling the National Development Plan for 2019/2020
and Guidelines for the Preparation of the 2019/20 Planning and
Budget in the National Assembly in the capital Dodoma.
The minister said the government’s expenditure was set to jump
to 33.5 trillion Tanzanian shillings (about 14.67 billion U.S.
dollars) in the next financial year, above the current fiscal
year’s expenditure of 32.47 trillion shillings.
Mpango highlighted that the macroeconomic targets for 2019/2020
was to attain real GDP growth of 7.3 percent in 2019, up from
the projected growth of 7.2 percent in 2018.
He said the 2019/20 budget will put more emphasis on building
more industries; improving agriculture, livestock and fisheries
products, tourism, forests and natural resources.
Mpango said the budget will also focus on improving business and
investment environment as well as investing more in education,
health, social services, youth and people with disabilities
He said the government will continue improving its relationship
with the private sector while enhancing public-private
partnership projects thus impacting the social and economic
development in the country.
Mpango said in order to increase and strengthen domestic
resources mobilization, the government will continue investing
more in information, communication and technology in the public