The Central Bank of Tanzania said on June 28 it projects the country’s economic growth to 7.4% in 2017 against 7.2% in 2016, driven by construction, communication and finance.

“The macroeconomic objectives of the government aim at achieving a real gross domestic product growth of 7.3 percent in 2016/17 based on the projected growth of 7.2 percent in 2016 and 7.4 percent in 2017, while maintaining inflation at single digits,” the Bank of Tanzania said in its latest monetary policy statement.

“The bank will continue pursuing prudent monetary policy in 2016/17 to keep inflation close to the medium-term target of 5 percent, while ensuring that the liquidity level is consistent with demands of various economic activities,” the Bank added.

In Tanzania, economic growth is mainly stemmed by public investment into infrastructures and by agriculture and gold exports, the country being fourth producer in Africa.