The World Bank
Email Address: Click to Email
Phone #: +255 22 216 3246
Fax #: +255 22 211 3039
Area: Dar Es Salaam
Website: Go to Website
About The World Bank:
Tanzania has made significant progress over the past two decades to achieve and maintain macro economic stability, becoming one of the best performers in Sub Saharan Africa. The World Bank is supporting the growth agenda through policy analysis and advice and also through grants and credits for projects and programs in agriculture, private sector development and infrastructure.
Economic performance in Tanzania has been solid in recent years, with high levels of growth, steadily increasing levels of exports, and significant financial deepening. Annual GDP growth has averaged between 5 and 7 percent making Tanzania one of the fastest-growing economies in Sub-Saharan Africa. Inflation pressures have also eased, but increasing commodity prices will pose a challenge to reach government’s target of 5 percent.
The global financial crisis affected Tanzania modestly, mainly through the export channel tourism, cash crops, and regional manufacturing exports as well as through lower capital flows foreign assistance and private investment flows. The most affected sectors have been manufacturing, wholesale and retail trade, transport, and communications services.
Annual inflation for 2010 is estimated at 7.2 percent, down from 12.5 percent for 2009. In early 2011, inflation has been edging higher, spurred by rising oil and food prices. The medium term evolution of inflation will remain dependent on external shocks to oil prices and agriculture production, but monetary and fiscal policy will also have an important role in anchoring inflation expectations.
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