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Tanzania says government spending to rise 7 pct in 2017/18
June 8, 2017 / 3:04 PM / in 6 months

Tanzania says government spending to rise 7 pct in 2017/18

DODOMA, Tanzania, June 8 (Reuters) - Tanzania said on Thursday its budget for 2017/18 (July-June) will rise 7 percent to 31.71 trillion shillings ($14.21 billion) giving a budget deficit of 3.8 percent of gross domestic product.

Finance Minister Philip Mpango told parliament in the administrative capital Dodoma that the government plans to borrow 6.17 trillion shillings from domestic markets and another 1.59 trillion from external non-concessional loans. ($1 = 2,232 Tanzanian shillings) (Reporting by Fumbuka Ng‘wanakilala; Writing by George Obulutsa; Editing by Louise Ireland)

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