Tanzania leads East Africa in economic health, outperforming regional peers

Dar es Salaam. Tanzania is leading East Africa in terms of economic health, outperforming its regional counterparts and other nations across Sub-Saharan Africa, according to David Kafulila, the Executive Director of the Public-Private Partnership Center (PPPC).

Kafulila’s remarks follow the release of the latest International Monetary Fund (IMF) report on the debt status of 186 countries globally.

The report highlights Tanzania’s continued economic growth and stability under the leadership of President Dr. Samia Suluhu Hassan.

“The IMF report bolsters Tanzania’s global standing, enhancing investor confidence and attracting investments that are expected to drive the country's economic growth,” Kafulila said.

The IMF’s findings emphasize Tanzania’s strong economic management, positioning the country favorably on the global business and economic stage.

In the October 2024 Economic Outlook, Tanzania’s debt-to-GDP ratio stands at 47 percent, well below the average for African nations, which is 67 percent. This reflects prudent fiscal management and a balanced approach to borrowing and public spending.

In comparison, neighboring East African countries show higher debt ratios: Kenya at 70 percent, Rwanda at 71 percent, Uganda at 51 percent, and Malawi at 84 percent. Countries outside East Africa such as Namibia and Ghana also report higher debt levels, at 67 percent and 84 percent, respectively.

Tanzania’s debt management, as outlined in the report, underscores the country’s ability to maintain fiscal health and achieve sustainable growth, further cementing its reputation as an emerging economic leader in the region and beyond.