{{Despite its increased receipts from traditional and manufactured goods exports as well as tourism during the year ended June 2013, Tanzania had a heavier external debt burden to bear due to increased borrowing by the government, according to a new report from the Bank of Tanzania.}}
The value of exported goods and services during the year topped $8.2 billion compared with $8.05 billion recorded in June 2012, but the external debt was a lofty stock of $12.08 billion.
In its July 2013 Monthly Economic Review, released Thursday, the central bank said the external debt stock increased by $444 million and $1,734,600 from the amount recorded at the end of May 2013 and the corresponding period in 2012 respectively.
“The government share in total external debt stock increased to 78.4 per cent from 76.2 per cent recorded at the end of the preceding month,” said the report, attributing the increase to new disbursements and accumulation of interest on arrears..
NMG
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