Tanzania projects its budget gap to narrow to 2.7% of GDP in 2023-24, down from 3%. It plans external borrowings of 2.1 tln shillings and domestic loans of 1.9 tln shillings in the upcoming fiscal year, with 3.5 tln shillings of domestic loans to be rolled over. Meanwhile, government debt rose by almost 14% YoY to 79.1 tln shillings in April. For 2023-24, the government expects domestic revenue to increase and aims for economic growth of 5.2%.