In-Depth Analysis
Tanzania
Tanzania has sustained relatively high economic growth over the past decade but downside risks include erratic economic policies, below-potential FDI inflows, and poor fiscal policy implementation. Tanzania adopted a relaxed approach to Covid-19 as President Magufuli downplayed the severity of the outbreak, but the economy has suffered due to supply-chain disruptions and a slump in tourism.
Since the start of 2021, there have been significant events and changes in Tanzania: astonishing Q2 and Q3 2020 real GDP figures were released, former President John Magufuli passed away ostensibly from heart failure (the country’s opposition claims it was as a result of Covid-19), and Samia Suluhu Hassan was sworn in as Tanzania’s first female president. Uganda and Tanzania also signed the East African Crude Oil Pipeline (EACOP) project agreement. (Source: Tanzania Quarterly Update, published April 2021)
Macroeconomic Data
(2020)
|
Fiscal Balance (as a % of GDP) |
-1.5 |
|
Consumer Price Index (% change y-o-y, avg) |
3.3 |
|
Current Account Balance (as a % of GDP) |
-0.6 |
|
Real GDP (annual % change) |
4.7 |
|
GDP per Capita, US$ |
1,105.4 |
|
Import Cover (months) |
6.4 |
|
Population, million |
59.7 |
| Total External Debt (as a % of GDP) |
36.5 |