Tanzania Announces $19 Billion Budget for 2024/25 Financial Year

Tanzania has declared a budget of 47,424 billion Tanzanian shillings (approximately $19 billion) for the financial year 2024/2025. This marks a 6.8% increase from the previous year’s budget.

According to Africa News Agency, The Tanzanian government plans to finance this budget through both domestic and external debt issues, with domestic revenues contributing over 72% of the total budget. Development partners are expected to provide 9% of the budget. This financial strategy illustrates Tanzania’s commitment to bolstering its economy and managing its financial resources effectively.

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