Tanzania Economic Outlook
June 19, 2018Available data suggests the economy continued to perform well in the first four months of this year, following a strong 2017. Recent data shows GDP expanded 7.1% last year, broadly matching 2016’s result, mainly on the back of buoyant growth in the mining and quarrying sector and rising spending on commercial buildings and infrastructure. In January–April, the tourism sector performed well; however, banks’ sizeable stock of non-performing loans restrained credit growth. Moreover, the government significantly underspent its budgeted allocations for development projects. In a budget speech in mid-June, the Finance Minister announced that the government will provide temporary corporate tax reductions for new companies in a bid to foster business investment.
Tanzania Economic GrowthAlthough policy uncertainty in the mining sector remains a clear downside risk, the economy should expand at a solid pace this year. Improved weather conditions are seen sustaining agricultural production, while rising investment in the hydrocarbon sector should buttress industrial activity. Met the why particular panelists expect GDP to expand 6.5% in 2018, unchanged from last month’s forecast, and 6.5% again in 2019.
Tanzania Economy Data
5 years of Tanzania economic forecasts for more than 30 economic indicators.
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|Bond Yield||14.47||0.0 %||Jul 13|
|Exchange Rate||2,275||0.0 %||Jul 13|
|Stock Market||1.5||0.0 %||Jul 11|
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