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Tanzania Economy Slowing Down, IMF Warns

IMF Tanzania GDP 2019 estimate

The International Monetary Fund (IMF) estimates that real GDP growth of Tanzania will be 4.0% in 2019, and 4.2% in 2020, as opposed to 6.6% growth experienced in 2018.

The estimates are included in the latest Wolrd Economic Outlook of April 2019.

In its 7th and last review of Tanzania’s economic performance of January 2018, the IMF warned that the country’s recent economic performances have been mixed and the outlook is subject to emerging risks to short-term economic growth stemming from slow budget implementation, a challenging business environment, and private sector concerns about authorities’ enforcement of rules.

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However, the IMF did not publish its 8th review of Tanzania’s economic performance of 2019, as the Tanzanian authorities have not consented to publication of the staff report or the related press release.

Tanzania GDP Growth

The current development plan of President Magufuli’s administration is based on Tanzania’s National Five Year Development Plan 2016/17-2020/21.

Among the objectives of the Plan, Tanzania will raise its annual real GDP growth to 10% by 2021 (from 7.0% in 2015).

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