It is Budget Day

BY SYLIVESTER DOMASA

13th June 2013

Finance Minister, William Mgimwa

Finance Minister William Mgimwa is set to table the government budget for the 2013/2014 financial year today in Parliament as Tanzanians are eager to know what is contained in the document.

The Tanzania’s budget is tabled simultaneously with budget estimates of other East African countries.

This year budget is tabled after all the ministries have tabled their budget estimates so as to facilitate the allocation of funds and be applicable effective in July 1.

According to the pre – budget briefing, the government expects to spend 17.7 trn/- in 2013/2014 financial year compared to 15trn/- spent in the ending financial year 2012/2013.

The pre budget brief highlighted the priority areas as ports, railways power improvement, water, education, ICT, health, entrepreneurship services and agriculture.

The government budget is tabled while national budget has climbed to 22trn/- this year which implies that the government had to spend much of its fund for paying the debt.

According to experts the budget estimates for 2013/2014 financial year are likely to climb by nearly 2trn/- to 18.8trn/- in order to accommodate contingencies which emerged during the budget-making process.

In the 2012/2013 budget , the government identified infrastructure, agriculture, development of industries, development of human resources and social services, tourism, development of domestic and external business and development of financial services as its priorities. 

SOURCE: THE GUARDIAN