The Minister for Finance, Dr. Mwigulu Lameck Nchemba (MP), led the Tanzanian delegation at the 17th Sectoral Council of Ministers responsible for Finance and Economic Affairs of the East African Community (17th SCFEA), held today, May 20, 2025, at the EAC Headquarters in Arusha.
During the meeting, he emphasized the need for member states to strengthen regional integration to accelerate the development of their nations.
The meeting discussed, among other matters, the report on budget consultations regarding the proposed common external tariff (CET) rates for the East African Community for the 2025/26 fiscal year.
It also received and deliberated on the implementation report of the decisions made during the 16th SCFEA meeting, as well as the report from the Regional Monitoring Committee on the implementation of the East African Monetary Union.
Other agenda items included receiving and discussing the report from the joint meeting of the Sectoral Committee on Budget Affairs and the Sub-Committee on Financial Matters of the EAC; the report from the 11th Regional Workshop on Public Financial Management and Budget Matters; and the report from the 28th meeting of the Monetary Affairs Committee (MAC).
Furthermore, the meeting received presentations from member states on the performance of macroeconomic indicators, progress made in meeting the regional macroeconomic convergence criteria, and national budget priorities for the 2025/26 fiscal year.
It also involved discussions on the budget frameworks of the member states for the 2025/26 fiscal year and the development of a unified EAC budget theme.