Tanzania Economic Outlook
April 26, 2022GDP growth softened to 4.9% in annual terms in Q4 2021 (Q3: +5.2% yoy) as mining and quarrying activity expanded at a more moderate pace. The result brought overall growth for 2021 to 4.9%. At the outset of 2022, dynamics should have firmed further. Personal credit growth accelerated in January–February, which likely contributed to the robust annual growth in merchandise imports. That said, elevated prices for key commodities could have capped the overall improvement. In other news, authorities are in talks with the IMF over a USD 700 million loan, which the government intends to use to reduce debt distress risks. The government is also seeking low-cost concessional loans from China and India for various projects. Moreover, elevated energy prices following Russia’s invasion of Ukraine and related sanctions have unlocked investment projects for Tanzania, which now expects an extra USD 10 billion to be poured into its liquified gas sector.
Tanzania Economic GrowthThe economy will grow at a brisker pace this year, as domestic demand will strengthen thanks to large infrastructure projects that should bolster employment levels and spending in turn. Moreover, promising political and policy developments bode well for future reforms. That said, elevated debt stocks, weather-related shocks and supply disruptions are risks to the outlook. FocusEconomics panelists forecast GDP to expand 5.5% in 2022, which is up 0.1 percentage points from last month’s forecast, and 6.0% 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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