Tanzania’s public debt soars to 110tri/- an increase of 12.7tri/-
DAR ES SALAAM: TANZANIA’S public debt has climbed to 110tri/- as of June 30, 2025, marking an increase of 12.7tri/- equivalent to 13 per cent within a single year.
The Controller and Auditor General (CAG), Charles Kichere, revealed this in Dar es Salaam on Monday when presenting his annual report to President Samia Suluhu Hassan at State House, noting that the debt comprises domestic borrowing of 35.5tri/- and external debt amounting to 74.55tri/-.
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Additionally, he said that the rise in debt levels is largely attributed to increased external borrowing.
Moreover, he also mentioned the depreciation of the Tanzanian Shilling against the US dollar as another key factor, saying it has contributed to a higher repayment burden on external loans.
The report further shows that in the 2023/24 financial year, the national debt stood at a lower level before rising sharply to the current 110tri/- in the following year.
As a nation, we must develop existing revenue sources and explore new ones to reduce foreign loans, which will decrease the national debt. Furthermore, institutions tasked with handling money laundering must intensify efforts to eradicate embezzlement and corruption, as highlighted in reports on the national debt and illicit financial flows.