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- May 11, 2013
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Tanzania will keep borrowing to finance its mega infrastructure projects, President John Magufuli has declared, dismissing arguments that the national debt would soon be unmanageable.
“Tanzania still has room for further borrowing…What matters are the projects into which we invest the borrowed money,” Dr Magufuli said.
He was responding to some issues raised by the Controller and Auditor General (CAG) Prof Mussa Assad who cautioned that the skyrocketing national debt would soon be out of hand.
JPM outlines why Tanzania will continue borrowing
“Tanzania still has room for further borrowing…What matters are the projects into which we invest the borrowed money,” Dr Magufuli said.
He was responding to some issues raised by the Controller and Auditor General (CAG) Prof Mussa Assad who cautioned that the skyrocketing national debt would soon be out of hand.
JPM outlines why Tanzania will continue borrowing