Browsing: Bank of Tanzania

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Report Insight: Tanzania debt soars, revenue breaking records

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Thanks to the credit extended by BoT, the private sector credit maintained a strong recovery pace, recording an annual growth of 10 per cent, the same as in the preceding month, and significantly higher than the 2.6 per cent recorded in January 2021.

The central bank report noted that accommodative monetary policy had catapulted good performance of the sector. Money supply growth was strong in January 2022 and consistent with the target of 10 per cent for 2021/2022.

“Extended broad money supply (M3) grew at an annual rate of 14.9 per cent compared with 15.5 per cent in the preceding month.”

The review unequivocally pointed out that the growth rate was more than twofold of the outturn in the corresponding period in 2021.

Tanzania Commercial City Dar es Salaam AIRShare

Tanzania: How economy faired in 2021/22 second half

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According to the review, money supply to accommodative monetary policy measures and supportive fiscal policy during the first half of 2021/2022.

Tanzania is a nation whose economy is driven by the healthy participation of the private sector, the sector fair well amid slow times.

Credit to the private sector grew by 5.9 per cent compared with an average of 5.1 per cent from July to December 2020.

Report Insight: Bank of Tanzania says economy growth modest

Tanzania

As the world and the East African region continue to recover from different kinds of economic shocks triggered by Covid-19, inflation in Tanzania has also taken different turns. According to the review, in August 2021, twelve-month inflation remained at 3.8 per cent, which is noted to be the same, as the last month.

On the other side of the fence, the review showed that core inflation—of which its index calls of the largest share in consumer price index (CPI), rose to 4.5 per cent in August 2021 from 4.1 per cent in July 2021, this is attributed to the increase in transport costs, “reflecting an upward shift in fuel prices”.

Things seemed to work better in food inflation, whereby annual food inflation—excluding alcoholic beverages, slimmed down to 3.6 per cent from 5.1 per cent, the review argues that this is due to a decrease in prices of maize and maize flour, meat, vegetable and beans.