DAR ES SALAAM Tanzania (Xinhua) --
The World Bank on Wednesday advised Tanzania to increase
investments in infrastructure to promote the already impressive economic growth.
Zeufack, the World Bank’s Chief Economist for the Africa Region, said although
the east African nation’s economic growth was impressive, yet the country should
improve both soft and hard infrastructure.
speaking in a teleconference at the launch of the Bank’s new report Africa’s
Pulse, from the World Bank headquarters in Washington, D.C.
said Tanzania was among seven countries in Africa that continued to exhibit
economic resilience, supported by domestic demand as well as posting an annual
growth rate above 5.4 percent in the past two years.
other countries in Africa with economic resilience as Ivory Coast, Ethiopia,
Kenya, Mali, Rwanda and Senegal.
countries have nearly 27 per cent of the region’s population and account for 13
per cent of the region’s total gross domestic product (GDP),” said Zeufack.
the World Bank said with strong and consistent growth rates of 6-7 percent,
Tanzania has outperformed its east African neighbors of Kenya and Uganda.
growth rates continue to outperform her East African neighbors,” said Bella
Bird, World Bank Country Director for Tanzania, Burundi, Malawi, and Somalia, at
the launch of the World Bank’s 9th edition of the Tanzania Economic
Update earlier, a series that provide regular review of the economy.
the launch of the economic update in Dar es Salaam, Bird said by contrast
Tanzania remains one of three economies in sub-Saharan Africa, together with
Rwanda and Ethiopia, that continue to exhibit resilience in this challenging
said, the Tanzanian economy has shown resilience amid flagging growth in
sub-Saharan Africa in 2016, adding that Tanzania.
The bank said
in its economic update similarly the poverty level in Tanzania has significantly
declined from 60 percent to 47 percent based on 1.90 U.S. dollar per day global
story of Tanzania’s growth and poverty reduction over the past decade is now
well known,” the bank said in the update.