Tanzania continues to demonstrate remarkable macroeconomic resilience, with GDP growth projected at 5.8% for 2024, underpinned by robust performance in the services sector, recovering tourism, and ongoing infrastructure investment.
Key Growth Drivers
The ICT and financial services sectors are expanding rapidly, with mobile money transactions exceeding TZS 180 trillion in 2023. Tourism receipts are projected to recover to pre-pandemic levels by mid-2024.
Fiscal Risks
Rising public debt and elevated global interest rates present fiscal risks that require careful management. Revenue mobilization efforts will be critical to maintaining the primary balance.
Recommendations
Priority investments in power infrastructure, port logistics, and digital connectivity will be decisive for sustaining growth and attracting foreign direct investment in the medium term.