Tanzania Economic Outlook
September 21, 2021Following the first quarter’s GDP expansion in annual terms, conditions seemingly continued to strengthen in Q2 and at the outset of Q3. Goods imports grew robustly in April–July, pointing to stronger domestic demand dynamics, although a favorable base effect flattered the reading. Moreover, despite slowing in annual terms at the tail end of Q2, personal credit growth remained robust, and accelerated in July, which should have supported spending. However, higher inflation in June–August could have tempered the overall improvement. Meanwhile, in early September, parliament ratified the AfCFTA agreement, which should boost trade ahead. In other news, on 7 September the IMF approved two loans totaling around USD 567 million to help finance the authorities’ response to the pandemic. Lastly, the vaccine rollout—which started on 3 August—is lagging due to a lack of jabs and widespread skepticism.
Tanzania Economic GrowthGDP growth should accelerate this year and next, bolstered by strengthening private consumption and recovering exports as global restrictions are eased. However, ongoing uncertainty over the pandemic, a late start to the vaccine rollout, and the sizable fiscal deficit brought about by the government’s large-scale infrastructure projects cloud the outlook. FocusEconomics panelists forecast GDP to grow 5.5% in 2021. In 2022, GDP is seen expanding 5.7%, which is unchanged from last month’s forecast.
Tanzania Economy Data
5 years of Tanzania economic forecasts for more than 30 economic indicators.
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|Bond Yield||14.73||0.0 %||Dec 31|
|Exchange Rate||2,300||0.0 %||Jan 01|
|Stock Market||1.2||0.0 %||Jan 06|
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