30-06-2014 08:19 AM | Tanzania

Agriculture pulls Tanzania economy

Improving productivity in agriculture, industries predominantly located in cities, construction, communication and retail trade have been singled out as the main drivers for this year’s economic growth.

Tanzania’s economy is set to grow at approximately 7% annually for the next two years, with inflation stabilizing at around 6% largely due to falling food prices and tight monetary policies.

The current account deficit should remain equivalent to a value of 13 -15% of GDP, unless there are significant changes in global commodity prices and in the demand for Tanzanian products, according to the World Bank’s latest Tanzania Economic Update released last December 2013: ‘Raising the Game: Can Tanzania Eradicate Extreme Poverty,’
Full Story : East African Business Week