#Tanzania economy grew by astronomical 7% in 2013-IMF report | Africa in the news #Tanzania economy grew by astronomical 7% in 2013-IMF report – Africa in the news
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#Tanzania economy grew by astronomical 7% in 2013-IMF report

English: Tanzania natural resources map França...

The donor community believe that natural resources recently discovered in Tanzania could see the east African nation come out of aid dependency.

The recent visit by IMF team to Tanzania concluded that:

  • The economy has continued to perform well, growing by 7 percent in the first half of 2013.
  • The economic outlook is promising
  • Growth projected to continue at a similar pace for the full year.
  • Overall inflation fell to 6.1 percent in September
  • Core inflation (excluding food and fuel prices) at 5.8 percent.
  • Noted positive benign developments in domestic food prices
  • Persistent prudent monetary policy ,
  • Inflation is projected to decline to the authorities’ medium term target of 5 percent by mid-2014.
  • The current account deficit declined somewhat,
  • but remained large, at 13½ percent of GDP in July 2012 – June 2013.
  • Also noted fiscal pressures emerged during the last fiscal year (2012/13, July to June)

Please read the full statement -http://www.imf.org/external/np/sec/pr/2013/pr13428.htm

Source- IMF.org

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