Budget Analysis for the Ministries of Minerals and Energy 2023/2024.

Tanzania is executing its 2023/24 fiscal year budget, totalling 44.39 trillion shillings. Revenue sources include 30.24 trillion from domestic sources, 7.54 trillion from loans, 5.47 trillion from grants and affordable loans, and 1.14 trillion from municipal revenues. Development expenditure is 14.08 trillion, while recurrent expenditure is 30.31 trillion. The budget emphasises economic recovery, climate action, and boosting productive sectors.^[1]

[1] Budget Speech 2023/24. https://www.parliament.go.tz/uploads/budgetspeeches/1686836483-document%20(21).pdf

country’s economic performance is positively triggered by the increasing growth of several sectors, including the mining industry. The increasing contribution of the mining sector to the country’s economy has been catalysed by effective revenue collection, as described by the Ministry of Minerals. The graph below illustrates the sector’s accomplishments in revenue collection compared to projections. The industry has consistently met or exceeded revenue targets, except for the shortfall in 2021/22. This pattern provides insight into the sector’s reliability and role in economic stability and development.