Tanzania to Shift From Least Developing Countries Soon - Unctad 2019 Report

TANZANIA will graduate from the group of Least Developing Countries (LDCs), in a few years to come, thanks to deliberate efforts of combating malpractices and determination to eradicate donor dependence on the country's budget.

The acting UN Resident Coordinator, Mr Michael Dunford said that economic growth comes due to strides made by the government to safeguard national resources by intensifying the fight against all forms of corruption, combating drug trafficking and strengthening discipline and accountability in the public sector.

Mr Dunford, who was delivering a welcoming note during the launch of United Nations Conference on Trade and Development (UNCTAD), Least Developing Countries Report 2019 in Dar es Salaam on Thursday, went on to show other factors which were prompting Tanzania's development.

"The results are channeled to social development programs, including provision of free primary and secondary education. The UN commends these efforts, because they will lead to attainment of sustainable development goals," he said.

The UNCTAD's official for Economic affairs division for LDCs Special program, Dr Benjamin Banda who read the report, analyzed areas which put Tanzania at the best position of graduating from poor countries in a few years to include good and strong leadership.

The UNCTAD's LDC report 2019 titled 'The present and future of external development finance-Old dependency, new challenges' assessed 47 countries.

It emphasizes on LDC's to strengthen domestic public revenue mobilization as a critical component to closing development financing gaps and lowering pressure on public debt.

"Economic dynamism in most LDCs has been accompanied by decline in levels of aid dependency, as the magnitude of aid flows declined relative to gross domestic product (GDP) or other macroeconomic variables such as imports, or fixed capital formation," the report read in parts.

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