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Vol 50 No 13

Published 26th June 2009


Kikwete's bailout package

Tanzania, the second largest of the big-three members of the East African Community, has presented a budget with a bullish message designed to spend its way out of the global economic crisis. At 31%, the overall budget increase is the largest in the EAC but much is to be spent on recurrent programmes rather than new development initiatives. Finance and Economic Affairs Minister Mustafa Mkulo said on 11 June that the recession would reduce this year's gross domestic product growth from over 7% to about 5%, with 5.7% GDP growth forecast for 2010.

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