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Tanzania among top performing economies

Discussion in 'Jukwaa la Siasa' started by Invisible, Dec 26, 2010.

  1. Invisible

    Invisible Admin Staff Member

    Dec 26, 2010
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    The agricultural sector plays a major role in the economy, employing nearly 80 per cent of the workforce. Photo/REUTERS

    December 26 2010

    Tanzania’s economy is among the best performers in sub-Saharan Africa, thanks to efforts over the past two decades at achieving and maintaining stability.

    Sound macroeconomic policies, market-oriented reforms and debt relief have provided a conducive environment for steady economic growth, ranging between five and seven per cent per annum since 2000.

    A recent study by the Southern African Development Community shows that the monetary policy has successfully controlled inflation in recent years, bringing it to single digit levels.

    Between 2003 and 2007, inflation averaged 5.8 per cent although it accelerated due to high international oil and food prices, reaching 10.7 per cent in June 2009.

    As drought and food crisis caved in, inflation fell to single digits in 2010.

    The study indicates that the agricultural sector plays a major role in the economy and employs nearly 80 per cent of the workforce.

    Unfortunately, high dependency on this sector renders the economy particularly vulnerable to adverse weather conditions and unfavourable prices in international primary commodity markets.

    The study illustrates that the low level of industrial development makes the negative economic impacts associated with agricultural dependency more severe.

    The country looks to the recently announced Kilimo Kwanza, to boost farmers’ productivity and incomes on a sustainable level.

    The development strategy for agriculture aims to achieve a green revolution through improved institutional arrangements, land use and financing as well as the implementation of an industrialisation strategy that is expected to transform the sector.

    According to the study, the key sectors experiencing growth are mining, construction, manufacturing and tourism. But poor transport infrastructure is a major bottleneck.

    Past finance has been insufficient to cope with growth and ensure an appropriate infrastructure platform that will help to achieve the millennium development goals and the National Development Vision 2025.

    The business environment on the other hand remains unattractive to both local and international investors.

    Reforms implementation in the sector have been sluggish and the lack of consistency between various policies towards the private sector have also had a negative impact on the investment climate.

    Other legal and regulatory changes have added to the complexity and impediments of the business environment.

    Consequently, Tanzania business sector continues to under-perform, and was ranked in the 131 place in the latest 2010 Doing Business Report.

    Despite the high rate of economic growth in recent years, the study notes that poverty is still pervasive in Tanzania.

    Recent robust economic growth has not translated into a corresponding improvement of quality of life and social wellbeing for millions of citizens.

    The level of poverty remained high at 33.6 per cent and the absolute number of the poor has increased by 1.3 million during the same period as per the Household Budget Survey 2007.

    Agriculture, on which the majority of the poor depend on for a living, grew only at around 4.5 per cent which was not high enough to raise the poor above the poverty line given the high population growth in rural areas.

    Source: The East African
  2. monge

    monge Member

    Dec 26, 2010
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  3. B

    Babuyao JF-Expert Member

    Dec 26, 2010
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  4. zomba

    zomba JF-Expert Member

    Dec 26, 2010
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    Economic ya Tanzania, imeanza ku-shoot toka alipokufa Nyerere!
  5. M

    Mokoyo JF-Expert Member

    Dec 26, 2010
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    una uhakika? onyesha hayo unayoyasema katika maisha ya Watanzania au unataka kuniambia kuongezeka kwa yebo yebo na pikipiki ndio kushoot kwa uchumi wetu?
  6. Steve Dii

    Steve Dii JF-Expert Member

    Dec 26, 2010
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    Tanzania in Sub-Saharan Africa!
  7. T

    Tikerra JF-Expert Member

    Dec 26, 2010
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    This study is a mockery to the poor people of Tanzania.It's not even worth the paper it is written on.
  8. G

    Gad ONEYA JF-Expert Member

    Dec 26, 2010
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    I am afraid, this depends on who/ what you are referring to! So it is a discriminatory statement! and plz don't ever generalize it,
  9. T

    Topical JF-Expert Member

    Dec 26, 2010
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    Hakuna indicators zozote zile blah blah tu...not worth reading
  10. M

    Mdondoaji JF-Expert Member

    Dec 27, 2010
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    Nilipoanza kuisoma niliishia paraghraph ya kwanza kwani niliona kama ni blah blah tu.
  11. Jackbauer

    Jackbauer JF-Expert Member

    Dec 27, 2010
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    John mbalamwezi haeleweki anataka kutoa ujumbe gani,heading inaonyesha uchumi unakua wakati anapoelezea anaonyesha hali ya mlala hoi inazidi kuwa mbaya.kwa upande mwingine alitakiwa atuonyeshe jinsi other sub saharan nations zinavyoperform.si hivyo tu bali atueleze source ya maana(is it ministry of finance,UNDP,WB,IMF???)Kwa SADC mh... Sina hakika kwa kutegemea kuuza 'maindi' nje tutaweza kuinua uchumi wetu.yawezekana sababu ya kuona uchumi wetu 'unakua 'inatokana na kuongezeka kwa idadi ya wanafunzi wa shule za msingi au ongezeko la shule za kata n.k lakini sio kipato.ni kweli haoni au kusikia kuwa ufisadi ni kikwazo cha maendeleo nchini?
    In my opinion this is just another 'crap' probably from a corrupted press-man who want to deceave the local and international community about our poor nation Tanzania.