World Economy

Tanzania Posts 6.8% Growth

Tanzania Posts 6.8% GrowthTanzania Posts 6.8% Growth

The Tanzania government Sunday acknowledged that some donors had withdrawn from supporting the national budget, but said the economy continued to post a 6.8% growth, AllAfrica reported. Finance and Planning Minister Philip Mpango also said although the country’s gross domestic product grew at 6.8% between July and September 2017, benefits of the expansion had not trickled down to the majority of Tanzanians. He spoke of the government having made huge strides in development although some shocks were there, including a number of donors withdrawing from financing the national budget and businesses being closed due to various reasons such as indebtedness. The minister was speaking during the launch of the Economics Society of Tanzania. The outfit will bring economists on one platform to come up with collective decisions to improve the economy. “Tanzania is among 10 countries in Africa whose economies are growing at impressive rates. We are also doing well in financial inclusion and inflation rates now stand at single-digits. Between July and December 2017 the inflation rate was 4.8%.”


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