Tanzania forecasts economic growth of 7.1% in 2019


NAIROBI (Reuters) – Tanzania’s economy is forecast to grow at 7.1% in 2019, from 7.0% last year, Finance Minister Philip Mpango told lawmakers on Thursday.

Mpango also forecasted a budget deficit of 2.3% of GDP in 2019/20 (July-June). The full budget is due to be presented to parliament later on Thursday.

The economic forecast was slightly lower than what Mpango projected in March but higher than the International Monetary Fund’s projection of 4%.

Reporting by Omar Mohammed; writing by George Obulutsa

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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