‘Z’bar national debt is soaring’
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‘Z’bar national debt is soaring’
ZANZIBAR Minister of State in the President’s Office (Finance and Planning) Jamal Kassim Ali yesterday said that national debt has reached 896.2bn/- which is sustainable and allows Zanzibar to borrow from productive projects for economic growth and development.
ZANZIBAR Minister of State in the President’s Office (Finance and Planning) Jamal Kassim Ali.
Ali (pictured) said when responding to queries raised by members of the House of Representatives, who contributed to the Zanzibar economy, development plan and budget estimates for the 2021/22 financial year.
According to him, external debt has reached 691.5bn / - where 95.9 per cent is guaranteed and paid by the government of the United Republic of Tanzania including major clean and safe water projects while 4.1 percent is under the revolutionary government of Zanzibar.
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