Dear Madam President,
I trust this letter finds you in good health and high spirits. I write to you as a concerned citizen deeply invested in the prosperity and sustainable development of our beloved nation, Tanzania.
Recent reports indicate that Tanzania's national debt has reached approximately USD 44.8 billion as of August 2024, with external debt constituting about 72.8% of this amount (https://t.co/FqpZplqWkT). While strategic borrowing can be instrumental in financing development projects, the current trajectory of our debt is increasingly worrisome.
The burden of this debt is gradually being passed down to ordinary citizens in the form of increased taxes and inflationary pressure. These taxes are often regressive, disproportionately affecting low- and middle-income earners, thereby reducing the quality of life for millions of Tanzanians. With stagnant wages and rising costs of living, many families are struggling to access quality healthcare, education, and other essential services.
Furthermore, sectors such as agriculture and tourism—which are key to our economy and livelihoods—are not receiving the level of investment needed to stimulate inclusive growth and job creation (https://t.co/Fyt1ltcsuA).
In light of these challenges, I respectfully propose the establishment of a National Economic Think Tank composed of Tanzania’s most accomplished economists, financial experts, industrialists, and development professionals. The purpose of this body would be to:
Assess Debt Sustainability: Conduct detailed reviews of our debt obligations to determine viability and potential socioeconomic consequences.
Strategic Investment Guidance: Ensure that borrowed funds are channeled into high-impact sectors that offer broad-based returns and uplift the livelihoods of our citizens.
Domestic Revenue Innovation: Develop more equitable, efficient, and growth-oriented strategies for domestic revenue mobilization that lessen the burden on taxpayers.
Policy Recommendations: Offer robust, forward-looking policy advice to build an inclusive, diversified, and resilient economy.
Your Excellency, our nation has no shortage of capable minds, this Think Tank would serve as a platform to harness their expertise in shaping a sustainable path forward for Tanzania. By doing so, we not only secure our economic future but also protect the dignity and welfare of every Tanzanian citizen.
I thank you for your dedication to our country and your continued commitment to transformational leadership.
Yours sincerely, Concernend Citizen
@SuluhuSamia@mamayukokazini@ikulumawasliano
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