Economic growth and development are universal aspirations that define the progress of both the individual and the collective as a State. There is cause, therefore, for Tanzania to celebrate after becoming the second country in East Africa, after Kenya, to be declared a lower middle-income country (MIC) by the World Bank.
The July 1 declaration is a clear manifestation of economic progress in Tanzania. The World Bank relies on income thresholds consistently achieved over a specific period and how that translates into individual wealth to make a declaration such as the one it did on Wednesday.
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