Tanzania’s economy in line with projection – central bank

0
Locals wear face masks as a preventive measure against coronavirus, in Dar es Salaam, Tanzania, April 20, 2020. Tanzanian health authorities on Monday announced 84 new confirmed cases of COVID-19 in three days, bringing the total number of confirmed cases to 254 from 170 reported on Friday last week. (Xinhua)
Locals wear face masks as a preventive measure against coronavirus, in Dar es Salaam, Tanzania, April 20, 2020. Tanzanian health authorities on Monday announced 84 new confirmed cases of COVID-19 in three days, bringing the total number of confirmed cases to 254 from 170 reported on Friday last week. (Xinhua)

Tanzania’s central bank said on Saturday the performance of the country’s domestic economy in the first and second quarters was broadly in line with the 2022 growth projection of 4.7 percent and 5.4 percent for Tanzania mainland and Tanzania’s Zanzibar, respectively.

However, the Bank of Tanzania (BoT) said in a statement inflation increased in May and June in 2022, attributing the rise to persistent high prices of imports, but remained within the target of 3-5 percent for Tanzania mainland and 5 percent for Zanzibar.

The statement was issued at the end of the bank’s Monetary Policy Committee’s meeting on August 5 to assess the conduct of monetary policy in May 2022 and June 2022 and economic performance.

The statement said high food, energy and fertilizer prices in the world market pose an upward risk to future inflation.

Credit to the private sector was strong, at 9.9 percent in 2021/2022, broadly in line with the target, said the statement. Enditem

Send your news stories to newsghana101@gmail.com Follow News Ghana on Google News

LEAVE A REPLY

Please enter your comment!
Please enter your name here