2024/25 BUDGET: A PATHWAY TO ECONOMIC GROWTH AND IMPROVED INCOMES FOR ORDINARY TANZANIANS

The 2024/25 Budget, with a total allocation of TZS 49.35 trillion, aims to foster economic growth and improve incomes for ordinary Tanzanians. Projected GDP growth is set to rise from 5.1% in 2023 to 5.4% in 2024, driven by increased investments in agriculture (26.5% of GDP), construction (13.2%), and mining (9.0%). Key measures include a 10% increase in tax revenue to TZS 29.41 trillion, a 30% allocation for development expenditure on energy and transportation, and targeted support for local industries and agriculture. However, managing a national debt of TZS 91.7 trillion and inflation will be crucial to ensure sustainable benefits for citizens.