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Mama Samia anatisha sana
Mama Samia anatisha sanaEconomists in Tanzania are excited following significant increase in the country's foreign reserves
Economists in Tanzania are excited following significant increase in the country's foreign reserves
The significant increase was due to export diversification.
Increased exportation of rice, maize, beans, vegetables, etc., helped to cushion the effect of COVID on the country's tourism sector.
Meanwhile, Tanzania has been advised to consider taking advantage of the foreign reserves boom to offset its external debts.
The Bank of Tanzania (BoT) said in its latest monthly economic review that foreign reserves jumped to $6.7 billion up from $4.9 billion in September, marking a historic high for the East African country.
the significant increase was due to export diversification. The BoT report, a copy of which was seen by Business Insider Africa, explained that there was increased exportation of some food items including rice, maize, beans and vegetables. This was in addition to the exportation of minerals, finished products and others.
"Export of rice, in particular, amounted to 303,4 million US Dollars compared with 97,4 million US Dollars, reflecting efforts made to improve cross-border trade...The increase was observed in all import categories, except fertilisers," the BoT said.
These exports helped to cushion the adverse effects which the Coronavirus pandemic had on the country's tourism sector.
READ: Tanzania’s exports to Kenya set to exceed $200 million in 2021
It should also be noted that the increase recorded in Tanzania's foreign reserves was despite the high forex demand for imports during the period under review. For instance, there was an 18.3% increase in oil imports to $1.7 billion due to price increase. And this accounted for a significant portion of the import bill.
Meanwhile, in reaction to the good news, some Tanzanian economists have expressed both excitement and optimism over the country's economic prospects going forward. One of these economists is Dr Hildebrand Shayo. He recommended that Tanzania should consider paying off its external debt now, making adequate use of the increase in foreign reserves. He also recommended how to ensure future increases.
"To ensure these reserves increase further in future, there is a need for the country to maintain exports competitive prices but more important to continue to be firm on building confidence for investors."
Ahmed Nganya, a manager at Vertex International Securities, said the increase in foreign reserves, coupled with the fact that Tanzania attracted $2.9 billion worth of Foreign Direct Investments (FDIs) between March and August this year, all point to the Tanzanian economy is poised for future growth.
Heko Mama SamiaKazi kubwa na nzuri anazozifanya Rais Samia Suluhu Hassan zimewaduwaza wachumi.
Hii ni baada ya akiba ya fedha za kigeni (Gross official foreign reserves) kuongezeka zaidi ndani ya miezi miwili tu nakufikia $6.7BL sawa na TZS 15.41 kutoka $5.9BL sawa na TZS 13.57 mwezi Septemba.
Ongezeko hili ni karibu TZS 2 trilioni linalomfanya Rais Samia ndani ya kipindi chake hiki kifupi kuongeza Jumla ya TZS 4Trilion kwenye hifadhi ya fedha za kigeni,rekodi ambayo haijawahi kufikiwa na Rais yeyote wa awamu yeyote
Ongezeko hili linachangizwa zaidi na uuzaji nje (Exports) wa bidhaa pamoja na huduma hasa mazao ya Chakula kama mchele, Mahindi, maharagwe na mboga mboga.
Kwamsiojua,ongezeko hili ni mbali ya ongezeko la gharama za uagizaji mafuta nje zilizokua kwa 18.3% nakufikia $1.7BL
Jambo la Pili ni Uwekezaji mkubwa kutoka inje Foreign Direct Investments (FDIs) uliofikia $2.9BL sawa na TZS 6.7Trilioni.
Ukuaji huu wa uwekezaji ni sawa na mara sita zaidi ya uwekezaji wote uliofanywa mwaka uliopita katika kipindi kama hicho cha kati ya Mwezi Machi na Agosti.
Ongezeko hili linaweza kuagiza bidhaa na huduma nje kwa kipindi kisichopungua karibu miezi saba rekodi ambayo haijawahi kufikiwa tangu kuwako wa Taifa hili miaka sitini (60) iliyopita.
Tanzania kwa sasa ndio nchi inayokuza hifadhi yake kwa kasi Ukanda mzima wa Africa Mashariki na Tumevuka lengo la EAC lakuwa na akiba ya kuagiza bidhaa na huduma nje kwa kipindi kisichopungua miezi 4.5
Kaziindelee Tanzania, Huyu Mama atatustaajabisha mnoEconomists in Tanzania are excited following significant increase in the country's foreign reserves
Economists in Tanzania are excited following significant increase in the country's foreign reserves
The significant increase was due to export diversification.
Increased exportation of rice, maize, beans, vegetables, etc., helped to cushion the effect of COVID on the country's tourism sector.
Meanwhile, Tanzania has been advised to consider taking advantage of the foreign reserves boom to offset its external debts.
The Bank of Tanzania (BoT) said in its latest monthly economic review that foreign reserves jumped to $6.7 billion up from $4.9 billion in September, marking a historic high for the East African country.
the significant increase was due to export diversification. The BoT report, a copy of which was seen by Business Insider Africa, explained that there was increased exportation of some food items including rice, maize, beans and vegetables. This was in addition to the exportation of minerals, finished products and others.
"Export of rice, in particular, amounted to 303,4 million US Dollars compared with 97,4 million US Dollars, reflecting efforts made to improve cross-border trade...The increase was observed in all import categories, except fertilisers," the BoT said.
These exports helped to cushion the adverse effects which the Coronavirus pandemic had on the country's tourism sector.
READ: Tanzania’s exports to Kenya set to exceed $200 million in 2021
It should also be noted that the increase recorded in Tanzania's foreign reserves was despite the high forex demand for imports during the period under review. For instance, there was an 18.3% increase in oil imports to $1.7 billion due to price increase. And this accounted for a significant portion of the import bill.
Meanwhile, in reaction to the good news, some Tanzanian economists have expressed both excitement and optimism over the country's economic prospects going forward. One of these economists is Dr Hildebrand Shayo. He recommended that Tanzania should consider paying off its external debt now, making adequate use of the increase in foreign reserves. He also recommended how to ensure future increases.
"To ensure these reserves increase further in future, there is a need for the country to maintain exports competitive prices but more important to continue to be firm on building confidence for investors."
Ahmed Nganya, a manager at Vertex International Securities, said the increase in foreign reserves, coupled with the fact that Tanzania attracted $2.9 billion worth of Foreign Direct Investments (FDIs) between March and August this year, all point to the Tanzanian economy is poised for future growth.
Hilo jarida linaongelea watanzania kama watanzania au watu gani? Maana mtaani kila mtu analia gharama za maisha na mfuko wa bei mbaya zaidi kuwahi kutokea tangu tupate uhuru.
Ulimi nje skumageng, nikuvumilia tu mukijifanya kuchakarika tutaangalia uraia wenu hapa nchini je nyinyi ni raia wa TzSema amekuduwaza wewe
Naona umelivamia jukwaa kama hata mimi unaniita sukuma gangUlimi nje skumageng, nikuvumilia tu mukijifanya kuchakarika tutaangalia uraia wenu hapa nchini je nyinyi ni raia wa Tz
sijakuita direct lakini kama ndie ndo ndie tuNaona umelivamia jukwaa kama hata mimi unaniita sukuma gang
Unakaribishwasijakuita direct lakini kama ndie ndo ndie tu
😀😀😀Naona umelivamia jukwaa kama hata mimi unaniita sukuma gang
La kumshauri ni hili asiwe mkweli kwenye sanduku la kura na Tume ya uchaguzi.Anaitwa mama, rais wa JMT, amir jeshi mkuu, kipenzi cha watu, Tanzanite lady, mkombozi wa watanzania
Anaitwa mama, rais wa JMT, amir jeshi mkuu, kipenzi cha watu, Tanzanite lady, mkombozi wa watanzania
Aachane na Uchamungu avae ushetani?La kumshauri ni hili asiwe mkweli kwenye sanduku la kura na Tume ya uchaguzi.
Asipofuata ushauri wangu atakomea term moja ya kurithi.
Msifieni yooooote. Ila Ushauri huu aufauate. Asijaribu kujipima kupitia sauti zenu za kusifu.
Ucha Mungu aachane nao, ili awe mtawala tena. PERIOD
CCM ya Mama wako vizuri sana kwa hoja aise,
Bahati mbaya sisi ata hatufahamiani kabisa,
Mbona basi tunazidi kukopa on top of Tozo??Kazi kubwa na nzuri anazozifanya Rais Samia Suluhu Hassan zimewaduwaza wachumi.
Hii ni baada ya akiba ya fedha za kigeni (Gross official foreign reserves) kuongezeka zaidi ndani ya miezi miwili tu nakufikia $6.7BL sawa na TZS 15.41 kutoka $5.9BL sawa na TZS 13.57 mwezi Septemba.
Ongezeko hili ni karibu TZS 2 trilioni linalomfanya Rais Samia ndani ya kipindi chake hiki kifupi kuongeza Jumla ya TZS 4Trilion kwenye hifadhi ya fedha za kigeni,rekodi ambayo haijawahi kufikiwa na Rais yeyote wa awamu yeyote
Ongezeko hili linachangizwa zaidi na uuzaji nje (Exports) wa bidhaa pamoja na huduma hasa mazao ya Chakula kama mchele, Mahindi, maharagwe na mboga mboga.
Kwamsiojua,ongezeko hili ni mbali ya ongezeko la gharama za uagizaji mafuta nje zilizokua kwa 18.3% nakufikia $1.7BL
Jambo la Pili ni Uwekezaji mkubwa kutoka inje Foreign Direct Investments (FDIs) uliofikia $2.9BL sawa na TZS 6.7Trilioni.
Ukuaji huu wa uwekezaji ni sawa na mara sita zaidi ya uwekezaji wote uliofanywa mwaka uliopita katika kipindi kama hicho cha kati ya Mwezi Machi na Agosti.
Ongezeko hili linaweza kuagiza bidhaa na huduma nje kwa kipindi kisichopungua karibu miezi saba rekodi ambayo haijawahi kufikiwa tangu kuwako wa Taifa hili miaka sitini (60) iliyopita.
Tanzania kwa sasa ndio nchi inayokuza hifadhi yake kwa kasi Ukanda mzima wa Africa Mashariki na Tumevuka lengo la EAC lakuwa na akiba ya kuagiza bidhaa na huduma nje kwa kipindi kisichopungua miezi 4.5