CTI COMMENTS ON 8 JUNE 2017 BUDGET

CONFEDERATION OF TANZANIA INDUSTRIES

(CTI)

PRESS STATEMENT ON THE BUDGET FOR 2017/2018

FRIDAY, 09TH JUNE, 2017

1.0        INTRODUCTION

The Confederation of Tanzania Industries (CTI) has received the Budget estimates for the fiscal year 2017/2018 and feels it contains provisions which will to a large extent have positive impacts on the industrial sector and the national economy at large, subject to the details in the financial bill.

2.0COMMENTS

2.1 General Comments

In general,we commend the Government for presenting a budget which aims at accelerating the pace of economic growth with specific emphasis on industrial development in the country. The budget for 2017/18 as presented, shows that about 62% of the budget (TZS 19.7 trillion) will be for recurrent expenditure, while the remaining 38% (TZS 11.99 trillion) will be dedicated to development. In fiscal year 2017/2018 the government has decreased the share of the development budget from 40% in 2016/17 to 38% (a 2% decrease). However, the amount of money set for development project has increased from 11.8 trillion in 2016/2017 to 11.99 trillion in 2017/2018. It is our expectation that the priority areas for the development budget will be directed to infrastructure development which has direct link to the revitalization of the industrial sector in the country. Please, read more on PDF file under Publications section.