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Home >> Business
UPDATED: 14:14, June 30, 2006
Zanzibar parliament endorses 2006-2007 budget
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The Zanzibar House of Representatives on Thursday endorsed the budget for the fiscal year 2006-2007 that starts on July 1, according to reports reaching in Dares Salaam on Friday.

Zanzibar Minister of State in charge of Finance and Economic Affairs Mwinyihaji Makame Mwadini told the lawmakers of the Indian Ocean archipelago that the government aims at providing social services to all Zanzibar citizens despite their political ideologies.

The isles government has planned to spend 214.8 billion Tanzanian shillings (171.84 million U.S. dollars) in the new fiscal year.

Parliamentarians elected and nominated from the ruling Chama Cha Mapinduzi party endorsed the budget whereas members of the opposition party who were elected and nominated as lawmakers did not support the budget, the reports said.

The ruling party occupies 50 of the 79 seats in the Zanzibar parliament while the opposition occupies 27 seats.

Zanzibar expects its economy to grow by 6.2 percent in 2006 when its gross domestic product is expected to total 454.9 billion Tanzanian shillings (363.9 million dollars).

The prediction was made by the minister of state in charge of finance and economic affairs while unveiling Zanzibar's 2006-2007 fiscal budget last week.

Zanzibar posted a gross domestic product total of 395 billion shillings (316 million dollars) in the fiscal year 2005-2006.

The minister of state also told members of the Zanzibar House of Representatives that inflation is expected to drop from 9.7 percent in 2005 to 8.5 percent in 2006.

Though part of the United Republic of Tanzania, Zanzibar has its own president, cabinet, parliament and jurisdiction system.

Source: Xinhua


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