Tanzania Government Debt Rises to TSh97.35 Trillion

Tanzania's National Debt Climbs to TSh97.35 Trillion, Still Sustainable – CAG Report

Dar es Salaam, March 27, 2025 –
Tanzania’s Controller and Auditor General (CAG), Charles Kichere, has revealed that the national debt reached TSh97.35 trillion by June 30, 2024—an increase of TSh15.1 trillion or 18.36% from the TSh82.25 trillion reported for the 2022/23 financial year.

Presenting his annual audit report for the fiscal year 2023/24 to President Samia Suluhu Hassan at the State House in Dar es Salaam on Thursday, Kichere assured that despite the surge, the government’s debt remains within manageable and sustainable limits.

According to the CAG, the current debt comprises TSh31.95 trillion in domestic debt and TSh65.40 trillion in external debt. Kichere emphasized that the debt sustainability analysis shows positive indicators, with Tanzania maintaining favorable ratios well below internationally accepted thresholds.

“As of June 30, 2024, the government’s debt stood at TSh97.35 trillion. This is an increase of TSh15.1 trillion, equivalent to 18.36% from the previous year,” Kichere stated.

He further elaborated that the present value of external debt is 23.6% of the Gross Domestic Product (GDP), significantly below the 40% ceiling, while the total public debt stands at 41.1% of GDP, beneath the 55% limit.

In terms of debt servicing, Kichere noted that debt payments as a share of export revenues accounted for 127.5%, remaining under the 180% threshold. Similarly, debt service as a proportion of government revenue was 14.5%, comfortably below the 18% benchmark.

The 2023/24 fiscal year saw the CAG’s office conduct 1,485 audits, which included 1,301 financial audits, 15 performance audits, and 52 special audits. Of these, 44 audits were initiated following requests from various stakeholders, while 12 were conducted by the CAG’s office under its statutory mandate.