<\/p>\n\n\n
By Xinhua<\/p>\n\n\n
Tanzania\u2019s economy continued to perform satisfactorily despite spill-over effects from the global economy due to the COVID-19 pandemic.<\/p>\n\n\n
The Bank of Tanzania said in a statement that the bank\u2019s monetary policy committee assessment of the performance and outlook of the economy showed that it will grow at the projected 5.5 per cent in 2020.<\/p>\n\n\n
The central bank said: \u201cThe macro-economic indicators have continued to remain stable and within agreed regional ranges.\u2019\u2019<\/p>\n\n\n
The statement added that inflation has remained low, averaging 3.3 per cent from July to August 2020, and will range between three per cent and five per cent in 2020\/21 financial year, as earlier projected.<\/p>\n\n\n
\u201cThe projection is underpinned by adequate domestic food supply, stable exchange rate, moderate oil prices and prudent monetary and fiscal policies,\u2019\u2019 said the statement.<\/p>\n\n\n
It said foreign exchange reserves remain adequate, above $5 billion and covering about six months of imports. The statement added that private sector credit growth is strong, notwithstanding challenges on global supply chains attributable to the COVID-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Xinhua Tanzania\u2019s economy continued to perform satisfactorily despite spill-over effects from the global economy due to the COVID-19 pandemic. The Bank of Tanzania said in a statement that the bank\u2019s monetary policy committee assessment of the performance and outlook of the economy showed that it will grow at the projected 5.5 per cent in […]<\/p>\n","protected":false},"author":1,"featured_media":2200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,241],"tags":[10],"class_list":["post-25514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-foreign","tag-tanzania","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n