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Illicit financial flows burden Tanzania's national budget

Addressing illicit financial flows (IFFs) is essential for Tanzania to strengthen its national budget, reduce its growing national debt, and improve public services. During a Policy Forum breakfast debate in Dar es Salaam this week,
The article from IPP Media discusses how illicit financial flows (IFFs) are significantly impacting Tanzania's national budget. According to the article, IFFs, which include activities like tax evasion, corruption, and smuggling, are draining resources that could otherwise be used for development. The Tanzania Revenue Authority (TRA) has noted that these flows not only reduce government revenue but also hinder economic growth by depriving the country of funds needed for public services and infrastructure. The article highlights that despite efforts to curb these flows, the problem persists, with estimates suggesting that Tanzania loses billions of dollars annually due to IFFs. This situation has led to calls for stronger international cooperation and more robust domestic policies to tackle the issue effectively.

Read the Full IPPMEDIA Article at:
https://www.ippmedia.com/the-guardian/business/read/illicit-financial-flows-burden-tanzanias-national-budget-2025-03-06-164443