Prof. Mkumbo tables first Planning and Investment Budget

DODOMA: The Minister for Planning and Investment Prof Kitila Mkumbo has tabled the ministry’s budget estimates for the 2024/25 Fiscal Year seeking lawmakers to approve a total of 121bn/-.

The budget will be the first since the docket was established by President Samia Suluhu Hassan mid last year.

Tabling the proposed budget in the National Assembly in Dodoma on Monday, he said 100bn/- is for recurrent and 21bn/- for development expenditures.

Mentioning the priorities, Prof Mkumbo said that the budget focuses on coordinating solid plans that will bring sustainable and inclusive development to citizens as well as attracting productive investments to the country.

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Other priorities he mentioned were, the improvement of the country’s business environment, efficient operation of public organizations and institutions, the completion of the integration of the Tanzania Investment Center (TIC) and the Export Production Zones Authority (EPZA) and the establishment of a new institute that will manage Private Sector Investment issues.

“The ministry will throw weight in the reviewing of laws related to mining, land, agriculture, tourism and business in order to improve our business investment environment in the country, but also we will complete the drafting of the Public Investment Law and its Regulations,” he told the parliamentarians.

“We also plan to complete the guidelines for the construction and operation of industrial zones in the country and make an assessment regarding the establishment and operation of special economic zones in the country.”

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