Tanzania’s economic growth remains steady, says Finance minister

Thursday June 10 2021
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Minister of Finance and Planning, Dr Mwigulu Nchemba.

By Bethsheba Wambura

Dodoma. The Minister of Finance and Planning, Dr Mwigulu Nchemba said  that despite the outbreak of the Covid 19 last year, Tanzania was one of the few countries in the world that had positive economic growth.

He said Tanzania's GDP was 4.8 percent compared to 7.0 percent growth in 2019 compared to other countries that registered negative growth.

Nchemba made the remarks while presenting in parliament the report of the State of the national economy for the financial year of 2020 and the national development plan for the financial year 2021/2022, in Dodoma ahead of the budget for the coming fiscal year.

He noted that the sectors that contributed significantly to the high growth rate of 2020 included the construction sector which was 9.1 percent, information and communication 8.4 percent, transportation and conservation which registered  8.4 percent, administrative services 7.8, technical activities 7.3,  minerals and gemstones stones 6.7, health and social services 6.5

 "The average per capita income was estimated at 2.6 million shillings equivalent to 1151 US dollars in 2020 compared to 2.5 million Tanzanian shillings equivalent to 1118.9 US dollars in 2019 which is an increase of 3.1 percent," he said.