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Home >> Business
UPDATED: 10:23, June 16, 2006
Tanzanian government spendings quadruple in 7 years
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The size of the Tanzanian national budget has more than quadrupled in seven years since the fiscal year 1999/2000, according to the 2006/2007 budgetary report delivered here on Thursday.

The increase of government spendings signify, according to local economists and analysts, a healthy trend of economic and social development in the country.

Tanzanian Finance Minister Zakia Hamdani Meghji presented the budgetary report to the country's National Assembly for approval. Tanzania's fiscal year starts on July 1.

It was the first time in Tanzanian history for a woman finance minister to present the budgetary report to the lawmakers.

The finance minister projected a spending bracket of 4.85 trillion Tanzanian shillings (3.88 billion U.S. dollars), compared with 1.191 trillion shillings back in the 1999/2000 fiscal year.

The fiscal years in between witnessed increases of government spendings from 1.257 trillion, 1.625 trillion, 2.091 trillion, 2. 694 trillion, 3.247 trillion to 4.176 trillion shillings. (1 dollar = 1,250 shillings)

Source: Xinhua


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