Tanzania Economic Outlook
January 23, 2018Recent data shows that from January to November 2017 the administration heavily underspent compared to the budgeted amounts, especially on development expenditure. As tax receipts increased significantly in the same period, the fiscal deficit was lower than expected and weighed on economic momentum. As for the troubled banking system, private sector credit grew slightly in annual terms in October, although banks continued to struggle with a high stock on NPLs and slow deposit growth. However, interest rates on loans and deposits moderated further from October, suggesting financial conditions could be easing somewhat. The mining sector also continued to send worrying signals: Acacia Mining, an important mining company, announced that its production had fallen by a third in Q4, due to a ban on gold and copper exports.
Tanzania Economic GrowthAfter decelerating in 2017, growth should pick up this year, thanks to a ramp-up in infrastructure expenditure, sustained consumer spending and increased agricultural production. However, a weak banking system and policy uncertainty could cloud the outlook. FocusEconomics Consensus Forecast panelists expect GDP to expand 6.5% in both 2018 and 2019.
Tanzania Economy Data
5 years of Tanzania economic forecasts for more than 30 economic indicators.
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|Bond Yield||12.75||0.0 %||Feb 14|
|Exchange Rate||2,255||0.0 %||Feb 14|
|Stock Market||0.4||0.0 %||Feb 08|
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