Tanzania unveils 2012-2013 budget

June 15, 2012

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Tanzanian Finance Minister William Mgimwa unveiled the 2012-2013 budget on Thursday (June 14th), which he said aims to tackle rising inflation, food insecurity and unemployment.

The 15-trillion-shilling ($9.5-billion) budget targets an annual growth rate of 6.8% and outlines measures to promote power generation, infrastructure development, strengthened revenue collection and tighter controls over public spending, Tanzania's Daily News reported.

The government also announced plans to partner with the private sector to invest in rice and sugarcane farming to provide stopgap measures against food shortages. "The government plans to guarantee food security through increased production of food crops," Mgimwa said.

The government plans to employ more than 71,000 Tanzanians with the new budget, by upgrading roads, electricity, agriculture and communications infrastructure and by providing youth with opportunities to gain access to financial services.

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Reader's Comments

  • staford Harold Chamgeni
    June 16, 2012 @ 08:07:51AM

    If it was me, I wish that we have some priority spending in the budget every year even though some sectors will be affected to a certain extent, it will help complete some key sectors in the community and to eliminate repetition of those concerns. The sectors to prioritize include water, electricity, agriculture, roads etc. And not the agriculture that depends on the availability of rain.

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