Tanzania Economic Outlook
January 25, 2022Conditions continued to improve in Q3, with annual GDP growth accelerating to 5.2% from 4.5% in Q2. The upturn was due to brisker growth in activity in the agricultural, mining and quarrying, manufacturing, accommodation and restaurants, and construction sectors. Available data suggests momentum carried over into Q4: Personal credit growth averaged higher in October–November than in Q3, which likely supported more robust growth of merchandise imports in the same period, hinting at strengthening domestic demand dynamics. In other news, on 17 December, the World Bank approved the USD 500 million BOOST program to improve the quality and accessibility of primary schools. On 21 December, the World Bank also approved a USD 150 million project to strengthen land tenure security for land holders and users in targeted regions.
Tanzania Economic GrowthEconomic growth is seen accelerating this year from 2021’s pandemic-affected outturn. Large construction projects will bolster capital spending and employment levels, in turn supporting private spending. However, still-frail fiscal metrics and high debt stocks are risks to the outlook, as is lingering pandemic-related uncertainty. FocusEconomics panelists forecast GDP to expand 5.5% in 2022, which is unchanged from last month’s forecast, and 5.9% in 2023.
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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