Union Vice President Samia Suluhu Hassan and Prime Minister Kassim Majaliwa notably featured at the ceremony Zanzibar President Ali Mohamed Shein took thed21-gun salute in Gombani grounds in Pemba.
The Isles leader highlighted achievements registered by the Isles government over the past decades and more recently, focusing on economic growth as the Isles mark 55 years of the revolution.
Dr Shein told the gathering that the ousting of the Omani-Arab sultanate oligarchy in 1964 had brought Zanzibar a lot of progress.
“As we mark 55 years of that change, we have witnessed economic growth at 7.7 per cent while tax revenue has increased threefold,” he said.
He said the tax collections in the Isle have been growing annually and reached the peak of Sh688.7bn in the 2017/2018 fiscal year, up from Sh521.8bn in 2016/2017.
“This tax collection has enabled the government to invest a lot in various projects for the benefit of Zanzibaris,” the president said.
He said the economy also grew at 7.7 per cent in 2017 compared to 5.8 per cent in 2016.
Inflation has also continued to stabilize to low single digit levels in 2018 where the Isles recorded inflation rate of 3.9 per cent, improving the record of 5.6per cent in 2017.
These developments have been achieved after the government stressed helping local manufacturers and ensuring there is a conducive business climate in the Isles, he said.
In the 55 years of the revolution, the government has continued to improve various sectors of economy including in education and health sectors, where currently a big number of schools have been built offering free education to all regardless of race.
He said currently at least 2,694 villages has been reached and connected to electricity out of 3,259 villages in the Isles by last year, being 83 per cent reacj.
The Isles are currently undertaking exploration on oil and gas starting from November last year in Pemba and later the effort will be conducted on Zanzibar Island.
“We have oil companies like RAKGAS which has been given the go ahead to conduct oil and gas exploration in the Isles,” he said.
He also touched on the issue of tourism that the Isled depend for revenues, noting that the number of tourists visiting the Isles had reached 520,809 as of last year, up from 433,116 tourists in 2017.
It is envisaged to reach up to 500,000 tourists will be visiting the Isles by next year, he added.