WEF RANKS TANZANIA AS AFRICA’S MOST INCLUSIVE ECONOMY

DAR-ES-SALAAM, The World Economic Forum (WEF) has ranked Tanzania as the most inclusive economy in Africa.

Inclusive growth is economic growth which creates opportunity for all segments of the population and distributes the dividends of increased prosperity, both in monetary and non-monetary terms, fairly across society.

According to the latest Inclusive Development Index (IDI) of the WEF, Tanzania has been ranked top in inclusive economy in Africa in view of its strong implementation of various economic policies, which enable the people to participate fully in economic activities.

The IDI is an annual assessment of 103 countries’ economic performance which measures how countries perform across 11 dimensions of economic progress, in addition to gross domestic product (GDP). It has three pillars — growth and development; inclusion; and inter-generational equity sustainable stewardship of natural and financial resources.

The IDI is a project of the WEF Initiative on the Future of Economic Progress, which aims to inform and enable sustained and inclusive economic progress through deepened public-private co-operation, thought leadership and analysis, strategic dialogue and concrete co-operation, including accelerating social impact through corporate action.

Other countries in the list of 10 best in Africa with their ranking position in brackets worldwide include Ghana, which emerged (52nd), Cameroon (53), Burundi (55), Namibia (56), Rwanda (57), Uganda (59), Mali (60), Senegal (61) and Nigeria (63).

The WEF has also ranked Tanzania at 48th in its list of Emerging Economies in the World.

Source: NAM NEWS NETWORK