TANZANIA investment growth is expected to remain firm in 2018 and 2019 due to moderate improvements in commodity prices and reforms to tackle macroeconomic imbalances.
According to the recent published World
Bank (WB) 16th edition of the Africa’s Pulse, a biannual analysis of
African economies, strong economic growth expected in 2018 and 2019
would attract more investments.
The report shows that the regional
growth is projected to rise to 3.2 percent in 2018 and 3.5 percent, in
2019 in Sub Saharan Africa (SSA) region. Moreover, the report indicates
that growth has remained stable even in non-resource intensive
countries, which consist mostly of agricultural exporters.
“Countries in the West Af rican Economic
and Monetary Union (WAEMU) and in east Africa have continued to expand
at a solid pace, with infrastructure investment continuing to stimulate
growth,” reads part of the report.
Moreover, increased crop production has
been explained as one of the factors that support economic activity on
the supply side. Elsewhere in West Africa, in Senegal for instance,
growth is expected to firm, supported by broad-based economic reforms.
While remaining robust, growth is
expected to soften in Côte d’Ivoire reflecting the effects of lower
cocoa prices and in Tanzania partly due to the under-execution of fiscal
plans.
Drought has taken a toll on economic
activity in Kenya, and in Rwanda, growth has slowed as the country
adjusts to economic imbalances.
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