Tanzania forecasts economic growth of 7.1% in 2019

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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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