Tanzania’s Government Debt increases by Tsh.12.7 trillion in one year

Tanzania’s government debt has reached Sh87.47 trillion, up from 74.75 trillion in 2022, the Parliamentary Budget Committee has reported.

The debt is up by Sh12.7 trillion, an increase of 17.09% compared to the same period last year.

Of the amount, the external debt is Sh56.79 billion, and the internal debt is Sh56.79 trillion.

Presenting the committee’s report in Parliament on February 14, Chairperson Daniel Sillo said the increase in national debt was due to the receipt of loans for financing development projects including the construction of road infrastructure, railways, airports, energy, agriculture, water, education, livestock, and health.

However, according to the latest report from the International Monetary Fund (IMF), Tanzania is among the least indebted nations in Africa.

Additional Source: Citizen