Consumption in Tanzania

Tanzania Consumption | Economic News & Forecasts

Tanzania - Consumption

The economy should have accelerated so far this year, as surging private-sector credit growth in January–April likely aided demand. Focusing on H2, a nearly 25% increase in the minimum wage, strong foreign investment inflows, a fuel subsidy package and the recently-announced expansionary FY 2023 budget will further aid momentum. In the budget, the government expects to more than double spending on agriculture relative to FY 2022, with extra support for irrigation projects, fertilizer, and livestock and fishery schemes. Overall government spending is set to rise roughly 9% year on year. In early June, the IMF announced a staff-level agreement on a USD 1.1 billion extended credit facility, which aims to boost social spending, increase fiscal revenue and advance structural reforms. The agreement must now be approved by the Fund’s Executive Board.

Tanzania - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)6.3  1.1  4.8  6.3  -     

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Tanzania Facts

Value Change Date
Bond Yield14.730.0 %Dec 31
Exchange Rate2,3000.0 %Jan 01
Stock Market1.20.0 %Jan 06

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