The National debt has increased from 49.8trl/- from April 2018 to 51trl/- in April 2019, the Minister for Finance and Planning, Dr Philip Mpango, has told the Parliament today.
Despite the 2.4 percent increase, Dr Mpango said the debt is manageable and the government will continue borrowing for the purpose of implementing various development projects.
He said the domestic and foreign debt stands at 13.2 trl/- and 38trl/- respectively.
“The debt has slightly increased because the government received loans for the implementation of Standard Gauge Railway (SGR), fly-over and other road projects,” he noted.
The Minister was presenting the government development plan for 2019/20 fiscal year in the House.