UPDATE 1-Tanzanian economy grew at 4.7% in H1 2021 - central bank

  • 11/16/2021
  • 00:00
  • 5
  • 0
  • 0
news-picture

(Adds details, context) DAR ES SALAAM, Nov 16 (Reuters) - The economy of mainland Tanzania grew at 4.7% in the first half of 2021, compared to 4.9% for the same period of 2020, the Bank of Tanzania said on Tuesday. Inflation remained within the 3-5% target and revenues “performed satisfactorily”, the east African country’s central bank said in a statement. In Zanzibar, a semi-autonomous archipelago, the economy grew at 6.5% in the second quarter of 2021 compared to a negative 1.4% in the corresponding quarter in 2020, the statement said. In mainland Tanzania, growth in the second quarter of 2021 was 4.3%, compared to 4.0% in the second quarter of 2020. The central bank said it was optimistic about Tanzania’s growth prospects. “The MPC (Monetary Policy Committee) agreed with the Bank of Tanzania to maintain an accommodative monetary stance in November and December 2021 to facilitate the recovery of the economy,” the statement said. Last week, Tanzania’s central bank here said it would target individuals and government officials in new measures to reduce non-performing loans. (Reporting by Nuzulack Dausen; Writing by Ayenat Mersie; Editing by Jan Harvey, William Maclean)

مشاركة :