Tanzania collects 45.07tri/-, hits 89.6pc of targeted revenue

DODOMA: THE Tanzanian government has successfully collected a total of 45.07 tri/- in the 2024/25 financial year, achieving 89.6 percent of its targeted 50.29 tri/-  revenue from both domestic and external sources.

Minister of Finance, Dr. Mwigulu Nchemba, presented the government’s revenue and expenditure estimates for the 2025/26 financial year, highlighting that the collections for the period were nearly on target until May 2025.

He outlined the revenue breakdown, that the Tanzania Revenue Authority (TRA) collected 26.86tri/- , which is 91.3 percent of the annual target.

Non-tax revenue, collected by ministries, autonomous bodies, and government agencies, amounted to 2.97tri/- , 77.4 percent of the target.

Local government authorities collected 1.26ri/-, achieving 93.2 percent of the revenue target.

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Additionally, foreign aid and concessional loans received during the year totaled 5.32tri/-, reaching 87.5 percent of the target, while domestic borrowing, including government bond repayments, amounted to 6.23tri/-, a 94.1 percent of the target.

Commercial foreign loans stood at 2.43tri/-, or 81.3 percent of the target.

Dr. Nchemba emphasized that the government had implemented major reforms that significantly improved domestic revenue collection.

He further noted that the rise in domestic revenue is vital for financing development projects, enhancing public service delivery, and ensuring the overall well-being of the nation.

 He also called on tax payments to boost national revenue.