In-Depth Analysis
Tanzania
Once known as a coronavirus-denying nation, Tanzania has drastically changed its stance on the virus since the death of former President John Magufuli. President Samia Suluhu Hassan has been steering the economy in the right direction since taking office in March 2021, as investor sentiment has improved while several developmental projects have been revived.
President Samia Suluhu Hassan has become more assertive in recent months – she cemented her authority by reshuffling her Cabinet and plans to get the ball rolling with the East Africa Crude Oil Pipeline (EACOP) and liquefied natural gas (LNG) project. Our near-term economic growth outlook has improved due to renewed support from the IMF and the signing of new construction projects. Consequently, we lifted our real GDP growth forecast to 5.0% in 2022. (Source: Tanzania Quarterly Update, published January 2022)
Macroeconomic Data
(2021)
|
Fiscal Balance (as a % of GDP) |
-5.0 |
|
Consumer Price Index (% change y-o-y, avg) |
3.7 |
|
Current Account Balance (as a % of GDP) |
-2.9 |
|
Real GDP (annual % change) |
4.8 |
|
GDP per Capita, US$ |
1,116.2 |
|
Import Cover (months) |
6.93 |
|
Population, million |
61.6 |
| Total External Debt (as a % of GDP) |
40.8 |