Tanzania’s government expects its economy to grow by 7.5% in 2017 and 7.9% in 2018, up from 7.2% in 2016, Minister of Finance and Planning, Philip Mpango, said on November 2.

“The macroeconomic objectives of the government are to attain gross domestic product growth (GDP) of 7.5 percent in 2017, followed by 7.9 percent in 2018”, Mpango told parliament.

He added that the government intended to increase public expenditures by 11.5% over the the 2017/18 fiscal year to Sh32.9 billion ($15.1 billion). This sum will be injected into education, health and public services as well as into infrastructure projects.

Tanzania’s GDP rose by 7% in 2015, pulled mainly by the transport, construction, telecommunication and finance sectors. Fourth largest gold producer in Africa, the East African nation also holds huge deposits of natural gas, coal, diamonds and precious stones.

Walid Khefifi