Tanzania economy seen expanding by 15trn/- in 2022

Tanzania economy seen expanding by 15trn/- in 2022

Tanzania is expected to expand its economy by nearly 15trn/- in 2022, to 177.1trn/- ($74bn) at current market prices, from 161.5trn/- recorded last year, a European think tank has suggest.

FocusEconomics, a Spanish consensus forecasts for 132 countries in Asia, Africa, Europe and the Americans based in the Catalona, said the Tanzanian economy will predominantly expand to USD 200trn/- next year, scaling to 222.2trn/-

Nominal GDP variation (without inflation adjustment) of 13.0% and 11.1% respectively was projected in the consensus report, forecasting real GDP annual growth of 4.9% in 2022 and 5.6% in 2021, 5.3% in 2022 and 5.6% in 2023

Martha Casanovas, the FocusEconomic Tanzania Lead economist, said in a report unveiled to this paper yesterday that GDP growth is se to accelerate to one of the strongest rates in the region this year.

The economy has been growing at an average rate of 10trn/- per year since 2017 to 2021, with another large expansion of the economy projected in 2025 by 22trn/- to 244.3trn/-, from 2024 figures.