Magufuli’s Administration Raking in $726.8 million via economic growth in January 2018
Tanzania, March 1 – Tanzania’s economy has grew by $726.8 million dollars as of January 2018, catalyzed by the country’s favorable policy that has given businesses elbow room to operate in a conducive business environment, expand and contribute to the general welfare of the nation. It has been a priority in the New Year 2018 for the economy of the country to register a better performance than the previous year.
According to World Bank (WB) report, the East African’s economy is one of the most promising and rapidly progressing in the African economies. The country has registered a continual and steady growth rate that has kept the face of the nation above economic waters. A number of improvements that have been made included better investments that have lured investors into the country.
The tourism sector has been on a perfect run, with tourists from other continents merging to spectate one of the tourism hubs in Africa. The rich revenues from the sector has helped the government to make necessary changes in the field to keep the face of tourism appealing and source other tourists from new markets.
Development in infrastructure has ease the transportation of goods and people, running business rather effectively. There has been little delay in perishable goods ensuring they reach their destination while still in good shape and quality. Agriculture has been able to produce the kind of results the country needs in its exports value.
The decline of poverty rate in Tanzania has been a sign of economic growth with little dependency of individuals on the working class. This has added numbers to the country’s GDP with more tax from the income.
For the country to keep the scintillating run, they must invest in productivity level to be able to rely less on external help and invest more on infrastructure.