Tanzanian Parliament approves Sh44.4 trillion national budget for 2023/24
What you need to know:
- The approved Sh44.4 trillion is 7.07%, or Sh2.9 trillion, more than the Sh41.48 trillion budget that the Parliament approved for the financial year 2022/23.
Dar es Salaam. Parliament has today approved the national budget of Sh44.4 trillion for the financial year 2023/23 which was tabled in Parliament by the Finance Minister on Thursday, June 15.
A total of 374 members of Parliament voted to pass the budget proposals, according to the National Assembly Speaker Dr Tulia Ackson, who read the results.
"This is equal to 95 percent of all votes cast by members of parliament," the Speaker said on Monday, June 26.
She added: Abstain votes were 20, and there were NO votes against the proposed budget, which takes effect on July 1.
The approved Sh44.4 trillion is 7.07%, or Sh2.9 trillion, more than the Sh41.48 trillion budget that the Parliament approved for the financial year 2022/23.
Where the money comes from
In an nustshell out of the Sh44.4 trillion budget for the financial year 2023/24, Sh30.237 trillion will sourced internally.
Out of the funds to be sourced locally, Tanzania Revenue Authority will collect Sh26.725 trillion while the remaining will be sourced as non-tax revenue.
District, town and city councils will garner Sh1.144 trillion. The government will also source Sh5.466 trillion as grants and concessional loans from development partners while another Sh7.541 trillion will be sourced as loans on commercial terms.
