Tanzania BOP surplus $321.5 mln in year to Jan down from a surplus of $529.8 mln a year ago... | JamiiForums | The Home of Great Thinkers

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Tanzania BOP surplus $321.5 mln in year to Jan down from a surplus of $529.8 mln a year ago...

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by nngu007, Apr 2, 2011.

  1. nngu007

    nngu007 JF-Expert Member

    Apr 2, 2011
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    Tanzania BOP surplus $321.5 mln in year to Jan

    Sat Apr 2, 2011 9:43am GMT


    Tanzania's balance of payments recorded a surplus of $321.5 million in the year to January, down from a surplus of $529.8 million a year ago, the central bank said in its latest monthly economic review.

    Here are some of the main points from the Bank of Tanzania's report:

    * In the year to January the current account deficit widened by 5.1 percent to $2.27 billion.
    * Gross official foreign exchange reserves held by the central bank rose to $3.92 billion, or 5.2 months of import cover, from $3.58 billion a year earlier.
    * The average interbank interest rate rose to 7.93 percent in January from 5.26 percent in December.
    * The average deposit rate stood at 2.41 percent in January, unchanged from December, while lending rates were at 14.66 percent, down from 14.92 percent a month earlier.
    * Tanzania's national debt decreased by 2.1 percent to $10.967 billion.
    * Gold, the country's top foreign exchange earner, fetched $1.579 billion in the year to January from $1.269 billion a year ago on higher gold prices at the world market.
    * The price of gold increased to an average of $1,244.6 per troy ounce from $994.3 per troy ounce a year ago. Tanzania is Africa's fourth-largest gold producer.
    * Tourism earnings increased to $1.3 billion from $1.17 billion a year ago, partly helped by the recovery of the global economy from the financial crisis.
    * Revenue collection in the month of January amounted to 433.4 billion shillings, representing 91.7 percent of the target.
    * Imports of goods and services rose by 18.4 percent to $9.04 billion in the period from $7.64 billion a year before mostly due to a rise in oil prices and consumer goods imports.
    * During the period, the average oil price at the world market increased by 23.3 percent, while the value of imported consumer goods jumped by 24.6 percent.
    * Earnings from traditional exports -- tobacco, cotton, coffee, cashew nuts and tea -- increased 22.4 percent to $610 million, largely due to a significant increase in the value of exports of tobacco and cashew nuts.
    * Credit to the private sector grew at an annual rate of 21.5 percent in January from 9.8 percent recorded a year ago.
  2. n

    niweze JF-Expert Member

    Apr 2, 2011
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    Lets find out all Tanzania revenues and we can calculate see really how much the government is bringing in and also all the expenses including those going to ccm. We will find so much crimes here. We wonder why we don't have transparency when we come to revenues issues.
  3. Anfaal

    Anfaal JF-Expert Member

    Apr 2, 2011
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    Binafsi sijaona expenditures za serikali kwenye hiyo list with reference to targeted or previous year. Nazo ni muhim maana kama mapato yanapungua na matumizi yanatakiwa kupungua. Sina hakika na hiyo surplus wameipataje kwenye BOP