June 14, 2018 / 2:54 PM / 4 months ago

Tanzania to raise 2018/19 spending by 2.4 pct, sees 7.2 pct GDP growth

DAR ES SALAAM, June 14 (Reuters) - Tanzania will raise its spending by 2.4 percent in the 2018/19 fiscal year starting next month, with the bulk of spending allocated for infrastructure, education and water projects, its finance minister said on Thursday.

Philip Mpango said the government planned to borrow 5.69 trillion Tanzanian shillings ($2.51 billion)of a total forecast spend of 32.48 trillion shillings from the domestic market, with the rest coming from external sources. ($1 = 2,270.0000 Tanzanian shillings) (Reporting by Fumbuka Ng’wanakilala Editing by Omar Mohammed)

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