World Bank expects Tanzania's economic growth to fall to 2.5 per cent in 2020

By Reuters

Business News
Economy would also be hurt by a decline in export demand

Tanzania’s economic growth is expected to drop to 2.5 per cent in 2020 from 6.9 per cent last year, the World Bank said on Monday, citing the impact of the coronavirus pandemic.

“International travel bans and caution against contracting the virus have severely hurt the tourism sector, which had been one of the fastest-growing sectors in the economy,” the bank said in a statement. It said the east African country’s economy would also be hurt by a decline in export demand, supply chain disruptions for domestic manufacturers and weak domestic consumption.