African economic outlook, Tanzania
The African Economic Outlook (2016) reports that, Tanzania economic performance has remained stable and strong over the past decade of 7% growth in 2014 and preliminary estimates indicate the same growth rate in 2015. The services, industry, construction, and information and communication sectors grew in double digits from 2014 to 2015. The inflation rate in 2014 was 6.1%, and is expected reduce to 5.6% in 2015 due to sustained level in agricultural output and prudent fiscal and monetary policy management. Furthermore, there has been an improvement in Tanzania’s Human Development Index value from 0.371 to 0.521 between 1985 and 2014. Since 2015 to date President Magufuli is focusing on government effectiveness and efficiency, increasing government revenue and combating corruption. Therefore, through faithfully implementation of policies and programmes in these areas outlined by the president will be crucial in addressing Tanzania’s poverty problem in the medium term.