FINANCE and Planning Minister, Dr Philip Mpango has tabled the 34.88tr/-national budget for 2020/2021 fiscal year which focuses on implementation of key strategic development projects and improvement of the education sector.
Tabling the national budget yesterday in Dodoma, Dr Mpango said the government has set aside 1.60tr/- for execution of Julius Nyerere Hydropower Project, which indicated a slight increase from 1.44tr/-which was allocated in 2019/2020 fiscal year.
Dr Mpango said that the government expects to collect 24.07 tr/-, which is equivalent to 69.0 per cent of the entire budget from the internal sources.
Dr Mpango said that of the funds, 22.10tr/- has been set aside for recurrent expenditure and 12.78 for development projects, while in the current fiscal year which ends on June 30, the government set aside a sum of 20.86trn/- for recurrent expenditure and 12.25tr/-, equivalent o 37.0 percent of the entire budget for development expenditure.
Ministry of Finance and Planning has been allocated 12.4tr/-, equivalent to 35.5 per cent of the entire budget, of which 10.48tr/-will be used for debt service while the President Office Regional Administration and Local Government has been given 7.1tr/-, of which 4.7trn/-as been set aside for recurrent expenditure.
