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Tanzania Economy 2008

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by The Farmer, Mar 1, 2009.

  1. The Farmer

    The Farmer JF-Expert Member

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    Mar 1, 2009
    Joined: Jan 7, 2009
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    Tanzania Economy 2008
    SOURCE: 2008 CIA WORLD FACTBOOK

    Tanzania is one of the poorest countries in the world. The economy depends heavily on agriculture, which accounts for more than 40% of GDP, provides 85% of exports, and employs 80% of the work force. Topography and climatic conditions, however, limit cultivated crops to only 4% of the land area. Industry traditionally featured the processing of agricultural products and light consumer goods. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's out-of-date economic infrastructure and to alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production and a substantial increase in output of minerals led by gold. Recent banking reforms have helped increase private-sector growth and investment. Continued donor assistance and solid macroeconomic policies supported real GDP growth of nearly 7% in 2007.
     
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