This was revealed in Dodoma on Tuesday by the Finance and Planning minister Dr Mwigulu Nchemba when he met for talks with WB executive director representing the Africa Group 1 Constituency (AfG1) Dr Taufila Nyamdzabo.
Dr Nchemba said Covid-19 has had an adverse effect to the government budget in general because in case of challenges involving nations that trade with Tanzania, it affects revenue collection – especially in regard to tax on imports.
“In addition, WB has pledged to open up projects that were stuck for a long time, including the country’s projects in strengthening secondary education infrastructures,” he said.
He also said other issued discussed include the country’s inflation rate which has remained at between three to five per cent, the country’s national debt that is sustainable in ratio to the 27.9 per cent GDP, while the limit is at 70 per cent according to criteria set by the International Monetary Fund (IMF) and the world Bank.
He also praised the WB Board of Directors for providing Tanzania with four concessional loans totaling USD 1,017 billion (2.3393bn/- towards development projects.
He mentioned the projects as including revamping road infrastructures, improving teaching environment and training in higher educational institutions, and expanding quality electricity supply services in the Isles.
For his part, Dr Taufila Nyamadzabo praised Tanzania government for its development efforts aimed at poverty reduction.
He also said the government is required to continue gather up resources in the fight against the Covid-19 pandemic, as well as fully utilizing the resources for implementing various projects, including those funded by the World bank and to involve the private sector in the projects.