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Tanzania imposes taxes on women's wigs, plus highlights from the East African budget



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BY AFRICANEWS

Tanzania's finance ministry proposes a new tax for wigs and hair extensions that are produced and imported locally that are popular among women in the country.

Phillipo Mpango, who submitted the 2019-2020 budget in parliament was welcomed by the legislator when he made a proposal that might not be liked by ordinary Tanzanian people.

When the budget is approved, locally produced wigs will pay 10% tax, while imported ones will attract 25% tax.

East African finance ministers including those from Uganda, Rwanda, Kenya and Tanzania presented their budgets for the next financial year on Thursday.

More from the Tanzanian budget

Mpango said Tanzania's overall spending would rise 2% to 33.11 trillion shillings ($ 14.43 billion) by 2019/2020, while borrowing 4.96 trillion shillings from the domestic market.

The government also plans to borrow 2.32 trillion shillings from external non-concession sources, Mpango said.

This third largest economy in East Africa invests heavily in public infrastructure projects because it seeks to benefit from a long coastline and increase railways and rickety roads to serve the economy that grows in east and central Africa.

Rwanda Budget

Rwanda's overall spending will rise 11% in fiscal 2019/20 (July-June) to 2.877 trillion fran Rwanda ($ 3.16 billion), while 2019 economic growth will be slower than the previous year, his finance minister said on Thursday.

Uzziel Ndagijimana proposed that 85.8% of the budget would come from internal sources, and the rest from external grants. The economy is projected to grow 7.8% in 2019 from 8.6% in 2018, he said.

Uganda's ambitious financial plan

Uganda plans to increase its spending by 23% in 2019/20 (July-June) to 40.1 trillion shillings, and the fiscal deficit will rise, his finance minister said on Thursday in his budget speech.

Matia Kasaija said in parliament the fiscal 2019/2020 deficit would be 8.7% of GDP, up from 5.8% this fiscal year, which ended this month.

He said the government would borrow 2.8 trillion shillings from the domestic market by 2019/20 up from 2.2 trillion shillings in 2018/19. External funding will be 10.11 trillion shillings, but he does not say how much of this will be borrowed.

Highlighting Kenya's budget

Kenya will cut its budget deficit for the 2019/20 financial year (July-June) to 5.6 percent of GDP from 7.4 percent in the fiscal year to the end of this month, Finance Minister Henry Rotich said in his budget proposal to parliament.

The funding gap will be filled by net local loans of 283.5 billion shillings ($ 2.79 billion) and 324 billion shillings in net external loans, Rotich said.

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