2012/13 BUDGET UPDATES: Dr Mgimwa: avoids unnecessary expenditures

Dr Mgimwa

Minister for Finance and Economic Affairs said yesterday in a bid to implement effectively new finance bill 2012/13 all unproductive and unnecessary expenditures should be avoided.

Dr William Mgimwa said therefore it is important for the ministries, departments, regions and local authorities to give opportunities to the private sector to contribute in building the economy.

“…every citizen is called upon to participate effectively in the utilization of available opportunities by providing services and engaging in productive activities in order to increase income,” the minister told the Parliament when reading the budget.

He said this budget directs investment of national resources in few priority areas with a view to accelerate economic growth and reduction of poverty. 

The minister caution follows the fact that in 2011/12 domestic revenues, including revenues from Local Authorities, were below target and donor commitment to budget basket is not delivered on time.

Data show that total collection up to this April reached 5.68tr/- equals to 80 per cent of estimates of collecting shillings 7.13tr/- for year 2011/12. 

Below is where the money comes from 

	Revenue	Shillings Million
A.	Domestic Revenue		8,714,671
	(i)   Tax Revenue  (TRA)	8,070,088
	(ii)  Non Tax Revenue	644,582
B.	LGAs own Source		362,206
C.	General Budget Support		842,487
D.	Foreign Loans and Grants including (MCA (T)		2,314,231
E.	Domestic Borrowing		1,631,957
F.	Non-Concessional Borrowing		1,254,092
	TOTAL REVENUE		15,119,644

 ....and expenditure 


 

Recurrent Expenditure

10,591,805

Development Expenditure		4,527,839

 

TOTAL EXPENDITURE		15,119,644

Source: tzexchange.blogspot.com 

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