Just to share on some salient features of our 2009/2010 budget:
Expenditure is expected to be 9.51 trillion shillings, up 32 percent over 2008/09.
· Recurrent expenditure is put at 6.69 trillion shillings while the rest will go to development. In 2008/09 the government set recurrent expenditure at 4.73 trillion shillings.
· The government sees 3.18 trillion shillings coming from donors, making up 33 percent of the budget. In 2008/09, donors funded 34 percent of the budget.
· Domestic revenue is seen at 5.1 trillion shillings, or 16.4 percent of gross domestic product (GDP), compared with 4.73 trillion shillings, or 15.9 percent of GDP, a year before.
· The government will seek 1.08 trillion shillings from domestic markets, with 506.19 billion for development spending and 576.5 billion to pay for maturing government securities.
· Agriculture, one sector hard-hit by the slowing global economy, will receive 667 billion shillings, up 30 percent from the year before.
· Education will receive 1.73 trillion shillings, up 22 percent from the previous year.
· Infrastructure will receive 1.09 trillion shillings, up 12.7 percent from 2008/09 to improve railways, roads, ports, airports and help the state-run airline, Air Tanzania
Going by what the President said yesterday, Tanzania is going to boost spending to support the economy.
What are your views on this?