Tanzania Economic Outlook
November 13, 2018According to recent reports from the Central Bank, economic activity continued to expand solidly in the third quarter. Credit growth strengthened further in August, fueled by a jump in personal loans and a significant acceleration in credit extension to the manufacturing sector. However, the current account deficit widened sizably in annual terms in the year ending August. While exports remained broadly stable, imports expanded significantly, boosted by surging purchases of capital goods from abroad due to soaring infrastructure spending. The expansion of development expenditures was reflected in fiscal data, which shows that total government spending jumped by over 30% in June in annual terms.
Tanzania Economic GrowthNext year, the economy should continue to expand solidly, supported by sustained infrastructure spending and growth within the services sector on the back of growing tourist inflows. That said, the uncertain policy environment represents a downside risk to the mining sector, and thus on growth. FocusEconomics panelists expect GDP to expand 6.5% in 2019, which is unchanged from last month’s forecast, and 6.4% in 2020.
Tanzania Economy Data
5 years of Tanzania economic forecasts for more than 30 economic indicators.
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|Bond Yield||14.78||0.0 %||Nov 14|
|Exchange Rate||2,295||0.0 %||Nov 14|
|Stock Market||1.4||0.0 %||Nov 06|
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