Tanzania: World Bank Report - Covid-19 Affected 500,000 Tanzanians

Over 500,000 Tanzanians have been affected economically by the Covid-19 pandemic outbreak which led to a massive unemployment crisis.

According to a World Bank (WB) report released on Thursday, tourism is among sectors that have been adversely affected by the global pandemic.

"The welfare effects have been dramatic, with over 500k Tanzanians estimated to have fallen below the national poverty line in 2020 on account of the COVID-19 pandemic. The pandemic continues to weigh heavily on employment and incomes," said WB Africa Chief Economist, Albert Zeufack.

The economist said that tourism sector revenues have dropped by 72 percent in between 2019 and 2020.

"...Tanzania's cultural and natural resources make tourism an incredible econ opportunity. Tourism in turn supports development by creating jobs, generating foreign exchange earnings, helping pay for preservation of cultural heritage and expanding the tax base," he stated.

However he was optimistic that there was a possibility for the country to get back on its feet economically since there are positive signs.

"Tanzania's recovery is likely to be uneven and slow but there are positive signs for the second half of 2021. Credit growth, mobility, and telecommunications activity are now expanding at pre-pandemic levels, which is promising," Zeufack added.

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