DAR ES SALAAM, Tanzania investment growth is expected to remain firm in 2018 and 2019 due to moderate improvements in commodity prices and reforms to tackle macroeconomic imbalances.
According to the recent published World Bank (WB) 16th edition of the Africa’s Pulse, a biannual analysis of African economies, strong economic growth expected in 2018 and 2019 would attract more investments.
The report shows that the regional growth is projected to rise to 3.2 percent in 2018 and 3.5 percent, in 2019 in Sub Saharan Africa (SSA) region. Moreover, the report indicates that growth has remained stable even in non-resource intensive countries, which consist mostly of agricultural exporters.
Countries in the West African Economic and Monetary Union (WAEMU) and in east Africa have continued to expand at a solid pace, with infrastructure investment continuing to stimulate growth, reads part of the report.
Moreover, increased crop production has been explained as one of the factors that support economic activity on the supply side. Elsewhere in West Africa, in Senegal for instance, growth is expected to firm, supported by broad-based economic reforms.
While remaining robust, growth is expected to soften in CAte d’Ivoire reflecting the effects of lower cocoa prices and in Tanzania partly due to the under-execution of fiscal plans.
Drought has taken a toll on economic activity in Kenya, and in Rwanda, growth has slowed as the country adjusts to economic imbalances.
Source: NAM NEWS NETWORK