ABA Alliance – TZ Budget Analysis 2023-2024
On 15 June 2023, Tanzania’s Minister for Finance and Economic Planning, Hon. Dr. Mwigulu Lameck Nchemba (The Minister) presented 2023/24 Tanzania National Budget Estimates (the budget). Note, the Finance Bill and Act for the fiscal year 2023/24 is yet to be released to the public.
The budget for fiscal year2023/24 is the third in the implementation of the Tanzania’s Third-Five Year National Development Plan (2021/22 –2025/26) with the theme of “Realising Competitiveness and Industrialization for Human Development”.
Well, the main theme for the 2023/24 budget as agreed by the East African Community Partner States is “Accelerating Economic Recovery, Climate Change Mitigation/Adaptation and Enhancing Productive Sectors for Improved Livelihoods”. The Budget’s priority areas are in the productive sectors including agriculture, livestock, fisheries, energy, natural resources, tourism investment, industry and trade. This Alert prepared by ABA Alliance summarizes the key economic overview and proposed tax changes.
