mwanatanu
JF-Expert Member
- Jan 22, 2008
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No magic solution to crisis - Mkulo
By The guardian reporter 19th March 2011
Says current hardships externally induced
There are no plans to reduce taxes on oil to address the growing economic hardships facing the people, the minister of Finance, Mustapha Mkulo said yesterday.
He was responding to questions from journalists on how he planned to relieve the economic hardships currently being faced by the people.
Mkulo quoted biblical phrases which say: "Every man shall eat by the sweat of his brow," and "Knock on the door and it shall be opened to you," apparently to stress individual efforts, saying wananchi should not expect the government to bail them out of the current problems.
He said the present economic hardships were not the making of anyone in the country, but a result of the current world problems.
"It is not only in Tanzania where people are facing difficulties," he said, adding that even in rich countries, people are facing serious economic hardships, with some turned into beggars.
He said the government was working hard to ensure that the rate of inflation does not exceed 7.5 percent by June this year. By December, inflation stood at 5.6 per cent, according to the minister.
He said the long-term solution was for the country to increase food output so as to bring food prices down and reduce inflationary pressure.
Mkulo stressed that Tanzania is doing well on inflation control compared to other countries in East Africa.
Kikwete on Tuesday directed Finance Minister Mustapha Mkulo to take measures to reduce inflation and improve revenue collection which is below the set target by eight percent.
He also directed the employment of a Deputy Controller and Auditor General to monitor use of public funds at local government level in a bid to curb embezzlement.
He urged the ministry in collaboration with the Tanzania Revenue Authority (TRA) to look into the possibility of cutting taxes on some products so as to lower their prices - thus reduce poverty and improve per capita income.
SOURCE: THE GUARDIAN
By The guardian reporter 19th March 2011
There are no plans to reduce taxes on oil to address the growing economic hardships facing the people, the minister of Finance, Mustapha Mkulo said yesterday.
He was responding to questions from journalists on how he planned to relieve the economic hardships currently being faced by the people.
Mkulo quoted biblical phrases which say: "Every man shall eat by the sweat of his brow," and "Knock on the door and it shall be opened to you," apparently to stress individual efforts, saying wananchi should not expect the government to bail them out of the current problems.
He said the present economic hardships were not the making of anyone in the country, but a result of the current world problems.
"It is not only in Tanzania where people are facing difficulties," he said, adding that even in rich countries, people are facing serious economic hardships, with some turned into beggars.
He said the government was working hard to ensure that the rate of inflation does not exceed 7.5 percent by June this year. By December, inflation stood at 5.6 per cent, according to the minister.
He said the long-term solution was for the country to increase food output so as to bring food prices down and reduce inflationary pressure.
Mkulo stressed that Tanzania is doing well on inflation control compared to other countries in East Africa.
Kikwete on Tuesday directed Finance Minister Mustapha Mkulo to take measures to reduce inflation and improve revenue collection which is below the set target by eight percent.
He also directed the employment of a Deputy Controller and Auditor General to monitor use of public funds at local government level in a bid to curb embezzlement.
He urged the ministry in collaboration with the Tanzania Revenue Authority (TRA) to look into the possibility of cutting taxes on some products so as to lower their prices - thus reduce poverty and improve per capita income.
SOURCE: THE GUARDIAN
