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Tanzania's Zanzibar unveils $284.7 mln budget for 2008/2009 |
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15:34, June 19, 2008 |
Tanzania's Zanzibar has unveiled its budget for the 2008/2009 fiscal year when the isles' House of Representatives got the spending plan of 341.708 billion Tanzanian shillings (284.7 million U.S. dollars) for approval.
Thursday's edition of the Daily News newspaper quoted Zanzibar Minister of State for Finance Mwinyihaji Makame as describing the budget as "pro-development."
Of the budgeted total, 192.274 billion shillings (160.2 million dollars), or 56 percent, will be spent on development projects while the remaining 149.435 billion shillings (124.5 million dollars) will be for recurrent expenditure.
Though part of the United Republic of Tanzania, the Indian Ocean archipelago of Zanzibar has its own government and hence its own budget.
The minister of state has projected an economic growth of 6.8 percent for Zanzibar in 2008. Zanzibar last year posted a growth rate of 6.5 percent.
Source:Xinhua
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