Tanzania Economic Update, Issue 20
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Washington, DC: World Bank
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Tanzania has managed to sustain its
growth momentum despite the intensifying effects of climate
change. While Tanzania’s economy continues to expand, recent
growth has been concentrated in sectors that employ few
workers from poor households, limiting its impact on
poverty. The Bank of Tanzania (BoT) has implemented an
effective monetary policy designed to curb inflation and
alleviate mounting short-term demand pressure on foreign
exchange. While Tanzania’s recovery continues to accelerate,
several serious threats cloud its economic outlook. Key
risks include the slow or incomplete implementation of
structural reforms, the damaging effects of climate change
on the agriculture and tourism sectors, and the possibility
of a global recession caused by fiscal and monetary policy
tightening in advanced economies and major EMDEs. To
mitigate these risks, policymakers must accelerate
structural reforms as part of a sustained effort to attract
greater private investment and spur resilient and inclusive
private-sector-led growth. Over the longer term, one of the
country’s key challenges will be to complete its structural
economic transformation, which will require creating a more
favorable business climate to support the growth of the
industrial and services sectors while boosting agricultural
productivity. Another key long-term growth challenge will be
achieving more balanced and inclusive growth.
Palabras clave
DEMOGRAPHICS, HUMAN CAPITAL, MORTALITY, HIGH FERTILITY RATES, FEMALE EDUCATION, WOMEN'S AGENCY, HIGH POPULATION GROWTH