Tanzania Economic Update, Issue 21 -Harnessing the Opportunity for a Climate-Smart and Competitive Livestock Sector in Tanzania
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Washington, DC: World Bank
Resumen
Descripción
Tanzania has managed a steadily
robust growth path amid multiple external shocks, with low
and stable inflation by regional standards. While poverty
reduction has progressed slowly, the government increased
public spending on goods, services, and transfers during the
first eight months (8M) of FY2023/24 to enhance the
provision of priority social services. Domestic revenue
observed double-digit growth, indicating the government’s
commitment to revenue mobilization and fiscal consolidation.
The current-account deficit narrowed, driven by increased
imports and a surge in foreign exchange earnings from the
tourism sector. However, foreign exchange challenges
persist, which has motivated the Bank of Tanzania (BoT) to
raise the policy rate and implement other prudent monetary
policies. Over the medium term, the economy is set to grow
at around 6 percent, supported by escalated private
investments resulting from a strengthened business
environment. A positive macroeconomic outlook and an
enhanced agricultural productivity have contributed to the
estimated decline in poverty. Major risks to the outlook
include incomplete implementation of reforms, climate
change, and a deterioration of the global economy.
Palabras clave
ECONOMIC GROWTH ANALYSIS, ECONOMIC SHOCKS AND TRADE, REVENUE ADMINISTRATION, PUBLIC SECTOR MANAGEMENT, TRADE POLICY AND INTEGRATION, TRADE, TAX AND REVENUE POLICY AND ADMINISTRATION, PUBLIC FINANCE, IMPACT OF TRADE, MACROECONOMIC VULNERABILITY AND DEBT, ECONOMIC GROWTH, ECONOMIC SHOCKS AND VULNERABILITY, DECENT WORK AND ECONOMIC GROWTH, SDG 8