Thursday, June 14, 2018

Tanzania’s economic growth highest in the region

Finance and Planning Minister, Dr Phillip

Finance and Planning Minister, Dr Phillip Mpango. Photo| Edwin Mjwahuzi 

By Samuel Kamndaya @TheCitizenTZ

Dodoma. Tanzania outshined its regional peers in terms of economic growth last year, the Finance and Planning Minister told the Parliament on Thursday, June 14, 2018.

Presenting the Economic Survey Report for 2017 and the National Development Plan for 2018/19 in Parliament, the Finance and Planning Minister, Dr Phillip Mpango said Tanzania’s economy grew by 7.1 per cent in 2017, ahead of its partners within the East African Community (EAC).

It was followed by Rwanda, Kenya, Uganda and Burundi at 6.1 per cent, 4.8 per cent, 4.5 and 0.0 per cent respectively.

The economy of South Sudan shrank by 11.1 per cent during the period.

The future of the region, according to Dr Mpango, looks bright, banking his hopes on the ongoing mega infrastructure projects.

“On addition to good investment and business policies, the member states have resolved to implement massive strategic regional projects with the aim of improving regional infrastructure,” he said.