By Ludger Kasumuni @TheCitizenTZ[email protected] Dar es Salaam. The government’s appetite for borrowing could eventually dent its ability to fund development projects, experts say.
The experts also warn that Tanzania risks falling back in the bracket of heavily indebted poor countries if it does not live within its means.
In a telephone interview with The Citizen, two economists said that the rising share of the national budget set aside to settle debts was unsustainable. [COLOR=rgb(226, 80, 65)]Finance minister Philip Mpango said 30.8 per cent of the 2018/19 budget will go to paying debts. Official figures show that the government borrowed [COLOR=rgb(226, 80, 65)]Sh9.6 trillion in 2016, Sh10.6 trillion in 2017 and will in the coming financial year borrow Sh10.4 trillion. The national debt stock has since ballooned to a staggering Sh49.65 trillion, which is over 40 per cent of the country’s total income (GDP).
Prof Honest Ngowi of Mzumbe University says the country is overburdened by the commitment to pay for debts. “We may be forced to forgo substantial investments in social services and infrastructure projects,” he said.
Prof Ngowi said while the borrowed funds go into financing infrastructure projects such as roads, railway, water and health projects, the financing gap still remains and threatens future sustainability.
He recommended that the government should consider reapplying for debt cancellation under the Paris Club and widen the tax base so that the country relies more on domestic revenue for financing development projects rather than seeking expensive loans. Another expert, Mr Godfrey Mramba who is a managing partner and CEO of Basil and Alred, agree that the debt burden could become disruptive.
“The government should increase its capacity of collecting taxes and reduce overreliance on expensive foreign loans,” he said.
Dr Mpango has in the past defended the growing debt saying it was within acceptable limits.[/FONT][/SIZE]
[SIZE=5][FONT=times new roman]Dah! Ndani ya miaka mitatu tu toka 2015 Serikali hii imeshakopa 32 Trillioni! Wastani wa shilingi 10.6 trillion kwa mwaka. Kwa mwendo huu hadi kufika 2020 watakuwa wameshakopa shilingi 53 trillion kwa miaka mitano!!! Naam Tunakopesheka![/FONT][/SIZE]
Tatizo watanzania hatujui mahusiano ya kinachokopwa na shida za maisha tulizo nazo! Na Jambo jingine watanzania mungu (siyo MUNGU) katujaalia ubwege wa kupenda kugandamizwa na ni waumini kindakindaki wa dini ya kuambukizana ujinga kwamba bila ya CCM kuwa madarakani, hakutakuwa na Tanzania.
Naona Mkuu umelisema (japo kwa ufupi) kwa uchungu sana na hisia kali. Jua ni wengi tupo kama wewe, tunaumia sana na hali ya watanzania walio wengi kwenye kundi hilo
Hiyo statement ‘The government should increase its capacity to collect tax’ hua inaniumiza kichwa sana maana najiuliza uchumi wetu na wa watu wetu ni taxable? Otherwise ni kuendelea kuwaumiza wananchi
Na katika hizo hela zote hakuna ishu ya maana aliyofanya anaweza mwonyesha mbongo wa kawaida akamuelewa. Ataonesha Bombadia!!. Ni kama mtu ananjaa we unaenda kumnunulia radio.
Makusanyo ni madogo sana kutokana na biashara nyingi kudondoka kwa sababu ya sera za sasa. Hivyo mikopo inalipia mishahara kuokoa jahazi. Kwa sababu hiyo mitandao na sehemu yoyote inayoongea sana inabidi ifungwe kuzuia siri hii kuvuja.
Hii Serikali ni Waongo sana. Kikwete aliacha deni la Taifa likiwa ni shilingi 43 billions. Ukiongeza mkopo wa miaka miwili tu w 21 trillions deni limepaa hadi 64 trillions hapo hatujaweka mkopo wa mwaka huu ambao utakuwa ni shilingi 10.6 trillions. Cha kushangaza hii Serikali inatudanganya kwamba deni la Taifa ndiyo kwanza limefikia 49 trillions kwa maneno mengine wamelipa 15 trillions ambayo ni sawa na nusu ya bajeti ya Taifa 2018/2019. Serikali hii ya wahuni itadanganya lolote lile ili kuficha madudu ya dhalimu.