Browsing: Bank ofTanzania

A photo of Tanzania Tanzanite Bridge
  • The national debt is still a lingering thorn in the economy.
  • Central banks point out monetary policy keeps money supply afloat.
  • Current GDP is higher than last year's 4.0 per cent in the same quarter.

Tanzania’s economy is progressing strongly despite global financial shocks propelled by the pandemic.   

According to the economic bulletin produced by the central Bank of Tanzania (BoT), the economy grew by 4.3 per cent in the quarter ending September 2021 , which is higher than 4.0 per cent in the corresponding quarter in 2020 – mainly driven by agriculture, transport and storage, trade and repair, manufacturing, mining and quarrying, and construction. 

On a comparative basis, Tanzania has stood relatively high compared to the African Development Bank’s optimistic forecast for real GDP growth of 4.1 per cent, contributed by improved performance of the tourism sector and the reopening of trade corridors. 

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