Stakeholders hail govt for tabling ‘workable budget’

By Guardian Reporter , The Guardian
Published at 05:43 AM Jun 18 2024
President Samia Suluhu Hassan
Photo: State House
President Samia Suluhu Hassan

FINANCIAL stakeholders have hailed President Samia Suluhu Hassan’s government for coming up with a down-to-earth budget, which boosts business growth in line with the country’s economic development.

Commenting on the fiscal 2024/25 budget tabled in the National Assembly by the Minister for Finance Dr Mwigulu Nchemba last week, Managing Director of the Bank of Africa (BOA) Esther Maruma said the measures which have been outlined by the government greatly help bring relief to Tanzanians as well as bolster efforts for competitive and inclusive economic growth. 

Maruma, who led a BOA delegation of senior officers to attend a budget session in Parliament, said this year’s budget touches all groups of people as well as sectors in the country.

She expressed its commitment to making improvements in serving all customers, the business community and companies in achieving the government's agenda to promote financial inclusion in Tanzania.

She explained that the government implemented budget and financial policies aimed at enabling the private sector and corporate companies, whose economic measures were geared towards boosting economic growth and creating a friendly and enabling environment for the business community, curbing inflation and increasing the scope of the tax collection base.

Maruma said the bank was commanding a good capital position and carrying out its activities in accordance with legal requirements. 

She said her bank had sufficient capital to conduct business as required and provided services digitally, which enabled it to continue coping with changes, while attracting more new customers and retaining the existing ones.

Maruma had an opportunity to visit the Dodoma Regional Commissioner’s Office, Dodoma BOA Branch and she met various stakeholders.

At a meeting with the Dodoma Regional Commissioner Rosemary Senyamule, Maruma shared BOA’s strategies and how the bank planned to cooperate with the government in fostering the country’s socioeconomic development.