Tanzania’s public debt hits the Sh69.44 trillion mark

Tanzania’s public debt has reached Sh69.44 trillion in April 2022 from Sh60.72 trillion in April 2021, the minister of finance and planning, Dr. Mwigulu Nchemba has said. The country borrowed Sh8.7 trillion in the past year which is equivalent to 14.4 percent increase.
Dr. Nchemba was speaking on June 14, 2022, during the handing over of his report for the 2020/21 state of the national economy and 2022/2023 national development plan in Dodoma. According to the minister, the increase in public debt was due to receiving soft loans for financing development projects.
“Another reason for debt increase was due to the release of special bonds worth Sh2.18 trillion for the funding of the Public Service Social Security Fund (PSSSF) debt derived from staff contributions before 1999,” he said.
However, he said that while the debt increased the evaluation report held in November 2021 shows the debt was still sustainable in the short, medium and long term based on the international measures.

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