Tanzania at the Turn of the Century : From Reforms to Sustained Growth and Poverty Reduction
The study builds on lessons from Tanzania's development experience of the past four decades, with emphasis on the period following the 1996 Country Economic Memorandum, which focused on the challenge of reforms, in particular the impact of ref...
| Main Authors: | , |
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| Format: | Publication |
| Language: | English en_US |
| Published: |
Washington, DC: World Bank
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2001/04/1089587/tanzania-turn-century-reforms-sustained-growth-poverty-reduction http://hdl.handle.net/10986/13905 |
| Summary: | The study builds on lessons from
Tanzania's development experience of the past four
decades, with emphasis on the period following the 1996
Country Economic Memorandum, which focused on the challenge
of reforms, in particular the impact of reforms on growth,
incomes, and welfare in the country. The study assesses
Tanzania's current development status against the
country's ambition, since independence, to rid the
nation of three archenemies: poverty, ignorance, and
disease. Structural transformation has been extremely
limited, with agriculture still dominating the economy, a
non-diversified economy that hampers flexibility to
withstand shock occurrences. Nonetheless, the country
intensified macroeconomic policy reforms, significantly
stabilizing the economy, with falling inflation levels,
climbing foreign exchange reserves, and an overall fiscal
balance. But the main factors identified behind the slow
development progress, are primarily inadequate capital
accumulation, and productivity growth; poor support for the
transformation of agriculture; disrupted progress in
building human capital; and, delayed demographic transition.
However, the steady progress in reorienting its economy to a
market-based operation, is creating space for exploiting the
large potential of private sector initiative. It is
emphasized that growth will only be sustainable, if firmly
rooted in exploiting the domestic resource base,
international competitiveness, and an aggressive pursuit of
new export opportunities. |
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