TANZANIA's economic and investment performance has
remained strong among African nations, emerging top in eastern African
countries, the government has affirmed.
Addressing a news conference in Dar es Salaam yesterday,
the Chief Government Spokesperson and Director of Information Services, Dr
Hassan Abbas said Tanzania's economy is growing at an average rate of 7 per
cent, the leading speed compared to other EAC nations.
"Despite the global economic crisis, Tanzania has
continued to remain strong in economic growth, becoming the leading economy
destination in Africa and the first in EAC," he said.
According to statistics, Tanzania is leading with 7 per
cent economic growth rate, whereas Kenya stands at 6.4 per cent, Rwanda 6 per
cent and Uganda 4.5 per cent. Dr Abbas said that the report by the World Bank
and International Monetary Fund (IFM) also indicates strong economic growth in
Tanzania.
He also noted that statistics by the Bank of Tanzania
(BoT) and IFM affirms that Tanzania has sustained high economic growth.
"The strong growth is supported by reforms done in
various development sectors, including health, energy and education
sectors," he said, adding that the performance is also attributed by huge
investments being initiated by the government and soaring collection of
revenues.
Commenting on revenue collection, Dr Abbas said that the
revenue collection has increased from 925bl/- in 2015 to 1.069tri/- in 2017,
recording a 15 per cent increase per year.
In investment performance, Dr Abbas said that the Quantum
Global Research reports indicate that Tanzania is ranked number eight in Africa
and the first in EAC in investment drive.
In 2015, Tanzania was ranked 19 among African countries.
In another development, Dr Abbas said that the country has recorded 224,738 new
businesses compared to 7,277 closed since July 2015 to March 2017.
In the health sector, Dr Abbas noted that the government
increased the ministry's budget to 1.077tr/- in 2017/18 from 796bl/- in
2015/16, saying that the increase of the budget has in turn seen the increase
in budget for purchase of health equipment, including medicines from 30b/- in
2015/16 to 261b/- in 2017/18.
On the energy sector, he said, the government has
initiated various projects, including the Kinyerezi One power plant generating
150MW with 30MW, some of it being used in Mtwara and Lindi.
He said the government was finalising the construction of
Kinyerezi Two which is set to generate 240 MW.
He said that the performance is also driven by the
education sector, whereby the government sends 18bl/- to schools every month to
boost the education drive.
Meanwhile, Dr Abbas reiterated the need for the public to
refrain from political propaganda and instead embark on serious investment for
the betterment of the country.
He said the government intends to bring huge reforms in
the country's development; therefore, it was wise for people to work and
strongly support it instead of mocking the efforts.
"Those mocking the country's economy should stop and
instead work to support the efforts ... their political propaganda are
baseless, even when the records from international bodies such as IMF and World
Bank state clearly that Tanzania's economy is sustained and strongly
growing," he said.
He said the two financial governing bodies state that
Tanzania stands out as the best example in economic performance in Africa.
Source: allAfrica