TANZANIA TIMES
Latest News From Tanzania, Zanzibar and East Africa

Kenya, Tanzania, among Africa’s Top-Ten Big Budget Spenders this Fiscal Year

The New financial year has just started, but which African countries get to spend more money before June 2023?

Tanzania Times

Kenya and Tanzania are the only two East African countries making into the top list as far as the size of their fiscal year budgets are placed on the continent.

As all countries in Africa start their new fiscal year, this July, it seems South Africa tops the bill in having the biggest National Budget for 2022/2023, estimated at USD 136.5 Billion.

South Africa

According to the data released by World Population, none of the 55 African countries have budget estimates bigger than USD 140 Billion. Even South Africa has only just inched close to USD 137 Billion

Egypt

Egypt, with a budget of USD 110.2 Billion from Cairo, comes second on the continent, after South Africa, as far as the budget size is concerned.

Algeria

Algeria is the largest country in Africa but its Budget, pegged at USD 74 Billion happens to be the third largest on the continent

Morocco

Morocco, the Northwest African Tourism Destination has a fiscal year budget of USD 57 Billion, ranking fourth on the continent.

Angola

On the fifth position, as far as budget size is concerned, is Angola which recently tabled a budget amounting to USD 43.8 Billion.

Nigeria

Nigeria may be leading in terms of population, but Abuja’s budget estimates for the fiscal year 2022/2023, billed at USD 41.3 Billion, places the country at position Number 6 in Africa.

Kenya

After Nigeria, follows Kenya, which is East Africa’s leading economy, but apparently its budget estimates reaching USD 28 Billion places the country at Number 7 on the continent.

Libya

Libya is ranked at Number 8 as far as budget estimates are concerned having planned an expenditure of USD 18.63 Billion between July 2022 and June 2023.

Tunisia

Tunisia’s fiscal year budget for the next 12 months is estimated at USD 18 Billion, placing the country at Number 9 on the continent.

Tanzania

Coming in at Number 10 is Tanzania with a fiscal year budget estimate of USD 17.8 Billion and closing the top-ten big African spenders of the year 2023.

Ghana

Ghana, with budget estimates of USD 17.25 should essentially be at Number 11 even though the World Population figures had previously placed it at Number 10. 

DR Congo

Surprisingly, Democratic Republic of Congo, which is the largest country in East Africa and second largest on the continent is missing from the listing and we have not yet managed to get Kinshasa’s official budget estimates.

Comments are closed.