International Monetary Fund (IMF) in a statement published on March 22, estimated that Tanzania’s economy should grow by about 7% this year, just like the year before (7%).

These forecasts are slightly lower than those announced in February 2016 by Minister of Finance and Planning, Philip Mpango, in a document which described the main points of state budget for 2016-2017 (July-June).

IMF added that inflation which was at 5.6% in 2015 “should decrease in the coming months, nearing authorities’ mid-term target, 5%”.

In Tanzania, economic growth is mainly fueled by public investments in infrastructure and gold exports. Tanzania is Africa’s fourth gold producer.