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2012/13 budget set to focus on Public Private Partnership

18th May 2012
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Finance and Economic Affairs Minister Dr William Mgimwa

The government is putting final touches to its budget for the financial year 2012/2013, which it says will focus on promoting Public Private Partnership (PPP) to fast track the country’s economic growth.

“The other priorities will also aim at boosting the economy and support the private sector,” Finance minister Dr William Mgimwa said in Dar es Salaam yesterday when briefing journalists on the forthcoming Africa Development Bank (AfDB) and Africa Development Fund (ADF) board annual general meeting slated for Arusha from May 28 to June 1, this year.

Dr Mgimwa, who declined to give details of the priorities saying his ministry, is putting final touches to the budget framework, only saying: “I don’t want to give details of the priorities now, though I know people are eagerly waiting to know what is in the coming budget. I call upon Tanzanians to be patient as everything will be made public in the near future.”

He said the government’s main focus will be to promote the private sector with most of the priorities being geared at supporting the sector.

According to Dr Mgimwa, development partners are keen to support Tanzania through the General Budget Support (GBS), dismissing as misleading information that some development partners have ceased to give their support to Tanzania.

“Development partners have an unwavering faith in supporting Tanzania through the GBS,” he said, adding that some of them prefer to directly channel their assistance to specific projects.

Speaking at the AfDB and ADF board of governors meeting, he said, the conference is expected to bring together over 2000 participants from regional banks and non-regional member countries.

Participants will debate on various issues including the emerging African economies, greening the economy and accountability, he said.

Other topics include Opportunities and Challenges of Global Economic Recession, Innovative Financing of Infrastructure and Regional Integration in Post-Economic Crisis, he said.  Dr Mgimwa called upon businesses to showcase their goods and exchange contacts with their counterparts who will be attending the conference.

President Jakaya Kikwete is expected to officially open the meeting which will also be attended by several African presidents, finance ministers, development partners and relevant stakeholders. The theme of the meeting is: “Africa and the Emerging Global Landscape; Challenges and Opportunities”.

It is expected that the theme will provide opportunity to participants to debate on the position and role of Africa in the world economy as well as the banks in promoting economic growth and development on the continent.

He said AfDB had released USD3bn (4.8trn/-) to Tanzania since it commenced operation in the country in 1971.

SOURCE: THE GUARDIAN
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