Browsing: Tanzania National budget

• Tanzania is significantly scaling up regional integration through cross-border trade.
• The East African country is also banking on a rebound in the tourism industry with receipts doubling to $2.7 billion in February 2023.
• Overall the number of investments powering Tanzania economy increased by 128 percent by February 2023.

Tanzania is poised to emerge as a premier investment destination not only in East Africa but across the entire continent, driven by its robust economic growth. The recent International Monetary Fund (IMF) report underscores this positive trajectory, indicating that the nation’s GDP is expected to grow from the current 5.2 per cent to an impressive 6.1 per cent next year.

Remarkably, Tanzania’s economy is resilient, overcoming the challenges posed by the global COVID-19 pandemic that hindered growth in various regions. The World Bank’s economic overview for Tanzania reflects a notable GDP growth rate of 4.6 per cent in 2022, with expectations of …