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NAIROBI. — Tanzania’s economy is expected to grow faster this year compared with a year earlier, but performance could be dampened by effects of the war in Ukraine, Finance Minister Mwigulu Nchemba said in a letter to the International Monetary Fund.
In the letter dated April 4 and made public last Friday, Nchemba said the economy was expected to expand by about 5.2 percent in 2023 from 4.7 percent a year earlier.
“We expect the economy to continue facing headwinds from spillovers of the war in Ukraine in the near term,” he said.
Tanzania’s economy relies on among others, tourism, mining and agriculture. — Reuters.
Online Reporter