Tanzania
Tanzania has good prospects for economic growth, import cover levels are comfortable, and political risk is relatively low. However, these strengths are offset by weak socioeconomic indicators, structurally large current account and budget deficits, and rising debt levels. Another problem is that protectionist policies may begin to affect investment into the mining and energy sectors.
GDP growth accelerated to 7.0% in 2018 from 6.8% the previous year, thanks to a strong performance by the industrial sector. The outlook, however, is not particularly encouraging, prompting a downward revision of our GDP growth forecast for 2019. We now expect GDP growth to fall to 6.1% this year as erratic economic policies, particularly within the mining sector, and the perceived hostility towards large foreign investors continue to dampen FDI inflows. (Source: Tanzania Quarterly Update, published June 2019)
Macroeconomic Data
(2018)
|
Fiscal Balance (as a % of GDP) |
-1.2 |
|
Consumer Price Index (% change y-o-y, avg) |
3.5 |
|
Current Account Balance (as a % of GDP) |
-4.1 |
|
Real GDP (annual % change) |
7.0 |
|
GDP per Capita, US$ |
965.0 |
|
Import Cover (months) |
7.4 |
|
Population, million |
59.2 |
| Total External Debt (as a % of GDP) |
35.3 |