World Bank has forecasted Tanzania as the third fastest growing economy in Africa next year after Ethiopia and Ghana. In a brief report, Global Economic Prospects: Sub-Saharan Africa, the WB predicted Tanzania to grow 7.2 per cent behind Ghana 7.8 per cent and Ethiopia 8.3 per cent.
The Breton Wood institute said the growth in Tanzania and Ethiopia, non-resource intensive countries, would be helped by public investment. “Growth in non-resource intensive countries is anticipated to remain solid, supported by infrastructure investment, resilient services sectors, and the recovery of agricultural production,” WB said in a statement issued on Sunday.
The report brief further said weather-related risks are elevated in East Africa. “Worsening drought conditions will severely affect agricultural production, push food prices higher, and increase food insecurity in the subregion,” the bank said. Read more. Source | Daily News