Monday, December 16, 2019
   
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The Government has cited major projects including the Julius Nyerere hydro-electric power project, standard gauge railway project and construction of a crude oil pipeline from Uganda to Tanzania as potential key drivers of investment and economic growth in the country.

Highlighting the government’s economic outlook pertaining to next year’s budget framework in Parliament recently, Finance and Planning Minister Dr. Philip Mpango said the Government would continue to construct and rehabilitate the infrastructures that include railways, road networks and ports in order to improve the business environment and to promote economic growth.

“The Government has so far this fiscal year settled outstanding claims of contractors and various suppliers amounting to TZS 599.94 billion after verification,” revealed Dr. Mpango. 

The minister said Government expenditure in the 2020/2021 fiscal year was projected at 34.360tri/-, which is 21.7 per cent of the country's gross domestic product.

Dr. Mpango said further that the Government would also focus on projects for supply of electricity in rural areas, expansion of Dar es Salaam, Tanga and Mtwara ports and construction of marine vessels to serve in major lakes - Victoria, Tanganyika and Nyasa.

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