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Overview:Tanzania August 29, 2007

Filed under: Overview — gaphydba @ 8:45 am

tz2.pngThe president, Jakaya Kikwete, and the ruling party, Chama Cha Mapinduzi (CCM), in office since the end of 2005, have so far not produced the dynamic government that many Tanzanians had hoped for. The regime will continue to promise much, but on issues such as corruption, policy initiatives will not be matched by effective implementation.

Country Forecast Overview (3 Year)

Key Indicators 2006 2007 2008
Real GDP Growth (%) 4.00 5.10 5.40
Consumer Price Inflation (av;%) 6.13 5.60 4.60
Budget Balance (% of GDP) -6.00 -3.80 -3.10
Current-Account Balance (% of GDP) -14.40 -11.80 -11.00
Exchange Rate US$:Euro (av) 1251.90 1285.75 1365.83
Exchange Rate US$:Euro(year-end) 1275.21 1300.00 1360.0

¬†Efforts to resolve the political issues on Zanzibar will continue, following the government’s pledge to renew its focus on solving the problems and to resume dialogue with the opposition, but little progress is expected and tensions will persist. Economic policy will continue to focus on developing the private sector and, in particular, the dominant agricultural sector. Assuming favourable weather conditions, real GDP is forecast to grow by a strong 6.9% in 2007 and 7.2% in 2008. The Tanzanian shilling will decline in value against the US dollar over the forecast period, owing to a continuing current-account deficit. The Economist Intelligence Unit expects the shilling to average TSh1,286:US$1 in 2007 and TSh1,366:US$1 in 2008.

Source:The Alacra Store