Tanzania's Economy Grew By 4.8 Pc in 2020

Minister of Finance and Planning, Dr. Mwigulu Nchemba said Thursday Tanzania economy grew by 4.8 per cent being one of few countries in Africa that had a positive economic growth last year.

Tabling the 2020 State of the National Economy and the National Development Plan in the National Assembly, the Finance Minister said the figure is slightly below the 7.0 percent growth registered in 2019.

"This was the result of the government's decision to allow people to continue performing their economic activities while adhering to health guidelines and precautions," he said.

He explained the slowdown in economic growth was due to the impact of COVID-19 in Tanzania's trading partners as well as floods which damaged transport infrastructure and delayed implementation of some development projects.

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