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Browsing: East Africa Economy
World Bank —Tanzania’s vibrant development partner has predicted a slow down of the Tanzanian real Gross Domestic Product (GDP) to 2.5 per cent in 2020 from 6.9 per cent in 2019.
According to the fourteenth edition of the—Tanzania Economic Update Addressing the Impact of COVID-19, the bank analysis, based on assumptions of strengthened government action on containing the coronavirus pandemic and mitigating the economic impact, as well as improving external conditions, demonstrate real GDP growth slowing to 2.5 per cent in 2020, with substantial downside risk.
The bank’s analysis went further and adjoined the 2018 Household Budget Survey, and found out that, an additional 500,000 Tanzanians could fall below the poverty line, particularly those in urban areas relying on self-employment and informal/micro-enterprises.
However, as the entire globe and the region navigate through the pandemic, Tanzania sustained its consequences adding “economic costs are already being felt in Tanzania and even …
