CAG has appologise for the information he gave to President Magufuli - OFFICIALFEMA BLOG

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CAG has appologise for the information he gave to President Magufuli

control and Auditor General (CAG) Prof. Mussa Assad has provided a definition of National Debt which until June 30, 2017 was Sh.Trilion 46.08.

Tuesday this week, Prof. Assad submitting his annual Financial Audit reports last June last year to President John Magufuli said the debt was Sh.46 billion from $ 41 billion last year, equivalent to an increase of 12 percent.Commenting on the debt yesterday, Prof. Assad pleaded with the people and the government's interest in the inconvenience of the debt statement while giving him a report to President Magufuli.He said that of the debt, Shs.13.34 billion equivalent to 29 percent is internal debt and foreign debt is Sh.D. 32.75 equivalent to 71 percent.


"So external debt is 31% of GDP." Also, the audit has identified the National Bank's debt as a liability, "he said.


However, CAG's annual audit reports will still remain confidential until they are submitted to the parliament.


He explained that the CAG submitted its information in accordance with Article 143 (4) of the Constitution of the United Republic of Tanzania of 1977 amended in 2005.


"Despite the incident being traded by the National Television Center (TBC1), according to the article mentioned these reports are still confidential until they are submitted to the parliament," he stressed.He noted that the launch event is expected to be held before April 12, this year at the first sitting of the Parliament which will be held after the report is presented to the President.


"So, the results of the audit will be open to the public after these reports have been submitted to the official parliamentary ... I apologize for any inconvenience that has occurred to the people," he said.

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