Tanzania's debt soars to $700b Saturday, 07 May 2011 DAR ES SALAAM, TANZANIA - Tanzania's national debt - external and domestic debt - has soared to US$700 billion in 2009/10 from a low of $507 billion in 2008/09, equivalent to an increase of 30%. Controller and Auditor General (CAG) Ludovick Utouh said in his report that the national debt increase was detected after auditing the expenditures of the Central Government between 2009/10 that ended on June 30, 2010. "The increase of the national debt is a huge burden to low income Tanzanians because they are major taxpayers' despite being poor," he noted. He said in one year 2009/10, the national debt had increased by more than $187bn of which external debt had increased to more over $167b, equivalent to 44% of the total debt. Domestic debt increased to over $347million - equivalent to 23%. As a consequence the Government borrowed large amounts of foreign currency to cover Central Government expenditures. "This means that the Government is obligated to pay external debtors more than the domestic debtors. It also means large amounts of capital of foreign currency will be paid outside the country," he explained. The CAG report elaborated that the national economy had grown by 6.5 % from 2008/09 to 2009/2010. "This is a dangerous situation if it doesn't match with the real situation of the growth of the national economy," part of the report noted. Apart from that debt borrowed by the Government, the CAG's report also detected the existence of unexpected debt of about Tsh 26 b involving nine Ministries and three regions. CAG said that such debts are a burden to the Government. Ludovick, speaking to journalists at the Information Services auditorium assured the public that his National Auditing Office, in collaboration with private auditing companies, is ready to ensure that the public expenditure is effected as approved by the National Assembly Source: Business Week. My take: Kikomo cha kukopa ni kiwango cha juu na mwisho cha serikali kukopa bila ya ruhusa ya bunge. Deni la taifa la sasa linakadiriwa kuwa ni $700 Billion (CAG Report, 2010). Hii ina maana kila mmoja wetu anadaiwa kiasi cha $16,375.56 (700,000,000,000/42,746,620 (population until July 2011). Hii sawa na Tshs 26,135,399 kila mtanzania anadaiwa. Tunawaomba wabunge hili deni linahitaji kudhibitiwa na bunge tunaomba kikomo cha ukopaji wa serikali nje na ndani. Nitaelezea zaidi nikipata muda.