The revelation by President Jakaya Kikwete that projections for economic growth of Tanzania shows a slump of 2.8% this year due to the global financial crisis, requires a sharp refocus of the country's priorities to reverse it.

It's not surprising that Tanzania suffered that much slump from 7.8% to 5%, because many countries have suffered equally badly because of the financial interdependence of the global economy.

However, it's the remedial efforts that must differ from country to country.

Upon realizing that Tanzania was hit by the global financial crisis, it promptly cushioned the economy with Tshs 1.7 trillion (US$ 1.5 billion) that it targeted to ease the agricultural and financial sectors. It's a good thing that the Government looks inward by by suggesting tangible ways to reverse the situation such as launching the 'Kilimo Kwanza' - 'Agriculture First' - campaign. This campaigns aims at revolutionalizing agriculture by mechanizing it, irrigation, using better seeds and strengthening the extension services.

What Tanzania needs now is to raise economic growth is to double farm produce by seriously engaging in agro-processing for local consumption and export. Much of Tanzania's farm produce and many other products have traditionally been exported raw which translates into exporting jobs.

With processing locally of agro-products, it will boost the prices of goods for export and increase local jobs and government revenue.

The next step Tanzania is to utilize the East African Community Common Market to the maximum now that it has realized that 'it works'. Tanzania should also go on to expand and exploit the Southern African Development Community (SADC).Tanzania's minerals, especially gold, could also help the country's economic growth if it lays the right policies to make maximum benefits. It now gets only 3% in royalties.

With more minerals lined for mining Tanzania could do well to avoid making the same policy mistakes.

Most impotantly, good governance and the right investment policies, Tanzania should be able to attract adequate investment capital to increase economic growth.