THE World Bank released its second Tanzania Economic update report in Dar es Salaam, indicating that the economy performed impressively, with more than six per cent growth rate, reduced fiscal deficit and declining inflation.
Despite these pleasant economic facts most Tanzanians remain trapped in abject poverty despite reports of impressive performance of the country's macro-economy. 'With an economic growth rate of 6.5 per cent, manageable fiscal and current account deficits, Tanzania performed better than most developed countries and better than many fast emerging economies, including India and Brazil," said Jacques Morisset, the main author of the report and the bank's Lead Economist for Tanzania, Uganda and Burundi.
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