Tanzanian parliament approves US$18.4-billion gov’t budget for FY 2023/24

Close-up of a Calculator and Pen on a Financial Newspaper. Blue-toned.

Tanzanian parliament on Monday approved 44.4-trillion-Tanzanian-shilling (about 18.4 billion U.S. dollars) government budget for the 2023/2024 financial year that starts on July 1, 2023 and ends on June 30, 2024.

The budget was approved by 95 percent of the members of Parliament (MPs) that were present in the House chamber in the capital of Dodoma after the MPs had debated it for two weeks since the budget proposals were presented in the House on June 15 by Minister for Finance and Planning Mwigulu Nchemba.

The new budget has increased by 7 percent from the 2022/2023 financial year’s budget.

Nchemba said the government would continue improving a conducive environment for investors and traders to stimulate economic growth.

He added that the government would also seriously address challenges facing investors and traders in their operations, including bureaucracy. Enditem

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