Tanzania is among top 10 Fastest growing Economies in the World

[mama mkunga]

This is very great news for us Tanzanian, Tanzania is one among the fastest growing economies.

Africa's impressive growth

Africa is now one of the world's fastest-growing regions

MUCH has been written about the rise of the BRICs and Asia's impressive economic performance. But an analysis by The Economist finds that over the ten years to 2010, six of the world's ten fastest-growing economies were in sub-Saharan Africa.

On IMF forecasts Africa will grab seven of the top ten places over the next five years (our ranking excludes countries with a population of less than 10m as well as Iraq and Afghanistan, which could both rebound strongly in the years ahead).

Over the past decade the simple unweighted average of countries' growth rates was virtually identical in Africa and Asia. Over the next five years Africa is likely to take the lead. In other words, the average African economy will outpace its Asian counterpart.

source: http://www.economist.com/blogs/dailychart/2011/01/daily_chart

 

[Nyambala]

This is very great news for us Tanzanian, Tanzania is one among the fastest growing economies.


source: Daily chart: Africa's impressive growth | The Economist

What does that translate to the economic growth of a peasant in Nkasi, Kibondo, Tunduru etc.

 

[mams]

Is this not becoz of our natural resources extration, if so, it reach will max and later will decline drastically.

 

[Njowepo]

Development should be people centered and not otherwise.
Na hawa wazungu wanatupamba bse wanachuma uku Tz.
Hali ya maisha ngumu alafu mnasema kuna growth

 

[Ms Judith]

they are lying! nimeona kwenye graph yao kuwa African countries will rise above Asian countries in GDP growth indicators effective 2000s. nafikiri ni moja ya tafitit ninazoweza kuziita fallacy kwani the latest news ni kuwa the global economic powers are now shifting from the west to the east and not to the south. you may correct me

 

[Kishalu]

we are expecting to be no 5 from 2011 to 2015 from study by the researcher's people but with JK and his cabinets mmh I'm worrying much

 

[Bongolander]

This is very great news for us Tanzanian, Tanzania is one among the fastest growing economies.


source: Daily chart: Africa's impressive growth | The Economist

Mama Mkunga you need to know that what we want is more than just growth in terms of digits. We know this already because we work hard, but the question is where is our sweat? Why don't we see this growth in our daily lives? we only see it in fugures why not in out pockets or in our tables. Or in schools, roads, hospitals for that matter. In fact we are becoming worse and worse, inflation is going up day in day out, so this talk is whole pack of nonsense. It is only a good tool for politicians to fool fools.

 

[Mpasuajipu]

Tusirubunike na hizi TAKWIMU hazina ukweli wowote.

Wananchi wa kawaida huko vijijini wana hali duni saaana. Wanakula HEWA kwa maana kwamba wanaskip baadhi ya milo, mf. No breakfast, No lunch na pengine kula mara moja tu kwa siku.
Eti TZ in top 5 " rubbish".:tape2:

 

[Bongolander]

they are lying! nimeona kwenye graph yao kuwa African countries will rise above Asian countries in GDP growth indicators effective 2000s. nafikiri ni moja ya tafitit ninazoweza kuziita fallacy kwani the latest news ni kuwa the global economic powers are now shifting from the west to the east and not to the south. you may correct me

Facts can tell, and we all see the facts which are exactly what you have just said. We are not making significant progress. BUt we can make progress so easily, if we change our politics and our mentality in kivukoni.

 

[coscated]

ingekuwa data za FBI ningekubali hapa usikute wamepewa data za kujipikilisha za BoT unategemea nini kama sio figurative economic growth and not real economic growth.

 

[Nyangomboli]

This is very great news for us Tanzanian, Tanzania is one among the fastest growing economies.


source: Daily chart: Africa's impressive growth | The Economist

Mbwa ukitaka akupende na hata umfanye utakavyo bila kukuuma msifie tu. good boy nk. wazungu wanajua weaknesses zetu za kusifiwa tukawaachia kila kitu wazi. huu mfumuko wa bei woote ndo uchumi unakua wakati watu hoi hawana hela!? mwe!

 

[zomba]

Hayo ni mambo ya Kikwete (ki-Kuwait), hatujawahi kuyaona haya si kwa Nyerere, Mwinyi wala Nkapa!

Hongera JMK, zidisha juhudi tuwe THE fastest growing within the next 2 years. Its possible, tena sana, jinsi nilivyosikia hayo makampunu ya kina Gates, Ambani, Bin Talal yanavyokuja, mie nna uhakika we will be the fastest growing in two years.

 

[Mzuvendi]

they are lying! nimeona kwenye graph yao kuwa African countries will rise above Asian countries in GDP growth indicators effective 2000s. nafikiri ni moja ya tafitit ninazoweza kuziita fallacy kwani the latest news ni kuwa the global economic powers are now shifting from the west to the east and not to the south. you may correct me

They aren't lying. This indicator translates that the economic activities are expanding relative to previous years.

Consider the incomes (KCK -kipato cha kaya) of two households or families with the same number of people living in the same country. The first household made 10milion in 2009 and 11Milion in 2010. This represents a 10% growth which is indeed very impressive. However, the growth doesn't tell us the whole story. It doesn't tell whether the new income level is able to sustain minimum living standards of the family or not.

On the other hand a second family made 100Billion in 2009 and 103Billion in 2010. The income growth of this family is just 3%. However it might represent a lot of money which could sustain higher living standards or enable the family to pay its debts and save some.

Since African countries and Asian are in the same planet. We can use the example above to explain why they are not lying. The expansion of African economies is in terms of 10 of billions while those of Asian countries are in 100 of Billions and more. Therefore, the growth of Asian countries doesn't need to surpass that of Africa in order to tilt the balance of power in the favor. The volumes of the economies are very impressive. In addition, the growths in Asian countries are in production sectors or industrial expansion; whereas the growths in African countries are in mineral and natural resources exploitation, without them you have minus growth in all countries mentioned in the article.

Now regarding the analysis at hand, as it's shown in the graph the economies of many African countries experienced severe depression in late 70s and 80s due to bad mismanagement (thanks to Marxist regimes and dictatorship), bad policies, bad luck, and civil wars. Therefore, this spectacular growth is just a recovery. As a matter of fact some countries such as Zambia haven't reached their post independence positions.

 

[bob giza]

This is very great news for us Tanzanian, Tanzania is one among the fastest growing economies.


source: Daily chart: Africa's impressive growth | The Economist

tutoleeni huu upuuzi, mi saivi hata milo miwili shida afu unanletea za fastest growing economy.....fastest growing economy my ass!!

 

[Somi]

wazungu wanatupamba bure tu huku wanavuna uranium, gold,chuma nk kama chifu magungo wa msovero alipewa nguo nzuri na carl peters huku akagawa maeneo yake bure kwa carl peters akadanganywa na nguo za kupendeza. Sasa hivi tunadanganywa na utafiti wa kutengeneza unaotusifia kiuchumi kumbe uongo mtupu. ila kwa wanaochuma mali za nchi hii ni kweli uchumi umepanda

 

[nngu007]

Sat, Mar 23rd, 2013

Tanzania is among six of the 10 world's fastest growing economies in the African continent, recording at least 7 per cent economic growth rate.

The other economies are the Democratic Republic of Congo (DRC), Ethiopia, Ghana, Mozambique and Zambia. The outstanding growth has elicited optimism around the world and some commentators are predicting that the average African economy still outpaced that of the Asia in the next five years.

The economic growth performance has been attributed to prudent macroeconomic policies, such as reduced debt burden, low inflationary monetary stances, enhanced investment climate, expansion of oil production and increased inflow of foreign capital and foreign direct investments.

This has encouraged African experts who are meeting here in a three day meeting, ahead of a two day joint annual meeting of the African Union (AU) Conference of Ministers of Economy and Finance and the Economic Commission for Africa (ECA) Conference of Ministers of Planning and Economic Development, starting tomorrow.

Speaking at the opening ceremony, ECA Deputy Secretary, Mr Abdallah Hamdok said despite global economic turn down, Africa recorded a robust growth of five per cent in 2012 well above the world average. "The installing of his growth must remain an uppermost consideration in our minds.

Accordingly, need to identify contributory factors and policies so we can improve on them," he noted. Mr
Hammock said overall, the impulse for economic recovery in many African countries came from high commodity demand in the international market, rising domestic demand associated with rising incomes and urbanization, improved macroeconomic management and prudential macroeconomic policies.

"interestingly, although GDP growth rates varied across countries and country groupings within Africa, they remained relatively strong in both oil-exporting and oil-importing countries, partly because of strong demand and high prices for non-oil commodities and improved performance in agriculture, services and other sectors," he stressed.

He noted that the ability of non-oil producing African countries to register remarkable economic growth strengthens the case for economic diversification on the continent. As Africa celebrated this commendable growth performance, the continent must not lose sight of disturbing disjuncture between the growth and prevailing social conditions in many of the African countries, Mr Hammock stressed.

"As a matter of fact, the reasonably good growth across the continent has not been translated into the broad-based economic and social development needed to lift millions of Africans out of poverty. Moreover, it has not been equitable. Africa continues to suffer from high levels of unemployment, particularly among the youth and women partly as a result of heavy dependence on primary commodities, as a sector which by itself cannot create enough jobs and inclusive growth," he added.

He said there is a reason why ECA is calling for accelerated industrialisation as one of the surest ways of ensuring the sustainability of Africa's recent economic growth. In addition to contributing to sustained wealth creation, related value addition will enable Africa's products to enter global markets on a more competitive basis," he explained.

He said industry particularly manufacturing has been showed to be fundamentally linked to sustained growth and transformation. It has historically provided a good foundation for the acquisition of skills, a major source of jobs and basis for innovation and learning by doing.

Addressing delegations and experts, the Chairman of the Bureau of Committee of experts, Mr Dieudonne Boudhou from Gabon said although the continent has a bright future, the economy needs to be transformed to address challenges the continent is facing which include high unemployment rates and health issue.

He said the committee of experts will gather ideas and views in line with this years theme;

Industrialisation for Emerging Africa and provide recommendations on measures to be adopted to address challenges facing the continent.

"The theme ' Industrialisation for emerging Africa' is timely as many African countries are recording high rates of economic growth, which needs to be translated to address challenges faced by many African countries. Africa should have vast industrialisation programmes that emphasise on processing to add value to the continents abundant natural resources," he said.


By ROSE ATHUMANI, Tanzania Daily News

 

[nngu007]

High GDP does not HELP our Nation... Goes to few 4%; Wakulima na Walalahoi ambao ni asilimia kubwa yaani 80% wako VIJIJINI na hawafaidiki na GDP hata KIDOGO...

 

[Verified]

President Obama arrives in Tanzania today, the third and final stop on his tour of Africa.

As well as holding talks with President Kikwete, he'll be meeting business leaders and visiting an American-owned power plant.

Tanzania is one of the ten fastest growing economies in the world - and the US is competing with several countries vying for business there.

READ MORE: BBC News - President Obama to visit Africa's boom country Tanzania

==========
Challenge:

As per -> The fastest-growing economies of 2013: Speed is not everything | The Economist

We have this chart

and, as per Daily chart: Growers and shrinkers | The Economist

We have this chart:

BUT, reading -> 29 Of The World's Fastest Growing Countries - Business Insider

You will find Tanzania placed #15

See this image:

 

[Dopas]

Wooow!!! Fastest growing economies in the world... Inatia moyo, ila ni viwango gani vimetumika, ilhali watu wake wengi wanahali mbaya?

 

[manucho]

J.K anapakwa chupa kwa mgongo mafuta