The Parliament of the United Republic of Tanzania has overwhelmingly approved the Budget Estimates of Revenue and Expenditure for the Ministry of Finance, amounting to 18.17 trillion shillings for the Fiscal Year 2024/2025. This approval was met with applause from Members of Parliament, led by Prime Minister Kassim Majaliwa, who commended the Minister of Finance, Dr. Mwigulu Lameck Nchemba, and his Deputy, Hamad Hassan Chande, for their diligent work.
The approved budget allocates 17.63 trillion shillings to regular expenditures. This includes 13.13 trillion shillings for government debt repayment, 946.45 billion shillings for salaries, and 937.30 billion shillings for other operational expenses. Additionally, 2.61 trillion shillings are earmarked for the services of the General Fund of the Government, and 544.05 billion shillings are designated for development projects.
In a related development, the Parliament also sanctioned the revenue and expenditures for Vote 045, pertaining to the National Audit Office (CAG). The approved amount for the CAG’s office is 112.73 billion shillings, with 101.26 billion shillings allocated for regular operations and 11.47 billion shillings for development activities.
Prime Minister Majaliwa lauded the Finance Ministry's leadership, highlighting their commitment to transparency and fiscal responsibility. "This budget will address critical needs and ensure the continuous development of our nation," Majaliwa stated.
Dr. Nchemba expressed gratitude for the Parliament’s support and reiterated the Ministry’s dedication to effective financial management and economic stability. "Our focus remains on sustainable growth and improving the welfare of all Tanzanians," he said.
The approval of the budget marks a significant step towards the government's goal of economic progress and financial stability. The funds will be crucial in addressing public service needs, debt management, and fostering development initiatives across the country.
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