Tanzania: Lead Nation in Climbing Economic Ranks-Minister

THE Minister of Finance and Planning, Dr Philip Mpango has said leaders tasked to lead the public should work hard for Tanzania to be upgraded onto the upper middleincome status.

He said despite succeeding to attain the low middle-income status on July 1, 2020, still, some people are living below the poverty line, hence, asked leaders to play a great role to change such situation.

"During campaigns in my constituency (Buhigwe), I learnt that most people are still living in poverty, as leaders we are the ones to make sure available opportunities are utilised to the fullest to bring changes at the grassroots as well as for the entire country," he said.

Dr Mpango made the remarks in Dodoma on Monday during a swearing-in ceremony of Prime Minister, Mr Kassim Majaliwa at the Chamwino State House in Dodoma, on Monday.

During the occasion, Dr Mpango and Minister for Foreign Affairs and East African Cooperation Prof Palamagamba Kabudi were also sworn-in by President John Magufuli.

However, Dr Mpango assured President Magufuli and people of Buhigwe constituency as well as all Tanzanians that his commitment and work will be glorious.

He noted further that during his election campaigns, he also observed that there was still a problem in implementing various development projects in which, funds allocated to such schemes were not being utilised as planned.

He said among the areas that he will oversee is government expenditures, because there are still some unnecessary and wasteful costs to be phased out.

As Finance Minister since 2015, Dr Mpango has helped President Magufuli to push through the industrialisation drive and implementation of big infrastructure projects, including a new Standard Gauge Rail line (SGR), Nyerere Hydropower Dam and a revival of the national carrier-Air Tanzania Company Limited (ATCL).

Elaborating, Minister Mpango said the government will concentrate on the top priorities to ensure effective participation of the private sector, in propelling the country's economy forward.

Dr Mpango said he will revive and call for frequent dialogues between all ministries and the private sector for the sector to also contribute effectively in the development of the nation.

"I will put more focus on the private sector and ensure they are well involved in decision-making on how things should go, because it is their views that will drive the economy," he added.

According to the Independent Development Evaluation African Development Bank (AfDB) report dubbed 'Towards Private sector-led Growth: Lessons of Experience' published in 2016 private sector is a driving force behind sustainable economic growth and a key source for creating wealth and jobs.

The report also highlighted that a stronger private sector leads to increased economic opportunities, more job creation, and increased revenues for governments to meet the needs and aspirations of their citizens, including the most vulnerable.

During his speech while inaugurating the 12th Parliament for 2020-2025, President Magufuli said the government will focus on a private sector-led economy in a bid to foster further social and economic growth.

The government's motive is to make sure that the country's economic status remains strong and climb further up economic radars.

President Magufuli said the private sector should take the lead in all sectors; agriculture, livestock, mining, tourism, fishing, business and many others in the next five years.

"Private sector will be given special priority in these five years... We want to make more billionaires in Tanzania," the President said.

Dr Magufuli said the private-sector-led economy will assist driving up the envisaged GDP growth to an average of 8.0 per cent in the next five years compared from the 7.0 per cent average growth recorded in the previous five years.

To support the drive the government will make sure there exists a favourable business working environment in the country, by eliminating bad laws and regulations that impede private sector growth.

"The government is keen to improving the business environment and it will be better in the next five years," Dr Magufuli said.

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