Tanzania Economic Update, December 2019 : Realizing the Potential of Agriculture for Inclusive Growth and Poverty Reduction
Tanzania was again one of the top growth performers in the region. Official GDP figures show that growth remained steady in the first half of the year, driven by higher public investment and by a recovery in exports. Inflation has been low and stab...
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| Format: | Report |
| Language: | English |
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Washington, DC: World Bank
2022
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| Online Access: | http://documents.worldbank.org/curated/en/213061575479179256/Tanzania-Economic-Update-Transforming-Agriculture-Realizing-the-Potential-of-Agriculture-for-Inclusive-Growth-and-Poverty-Reduction http://hdl.handle.net/10986/36927 |
| Summary: | Tanzania was again one of the top
growth performers in the region. Official GDP figures show
that growth remained steady in the first half of the year,
driven by higher public investment and by a recovery in
exports. Inflation has been low and stable, and the balance
of payments is quite sound despite a widening current
account deficit. Exports are recovering from last year’s
contraction. The Government's Tanzania Development
Vision 2025 and the Five-Year Development Plan (FYDP II) set
out ambitious goals for reducing poverty and sustainably
industrializing so that the country can achieve
middle-income status by 2025. The government recognizes
agriculture as central to realizing its objectives of
socioeconomic development, which are well-articulated in the
Second Agriculture Sector Development Program (ASDP II).
Among the goals of ASDP II are to transform agriculture by
promoting commercialization, prioritizing high-potential
commodity value chains, and mobilizing capital by giving the
formal private sector a growing role in agriculture. Because
agriculture and related value chains drive two-thirds of all
jobs—three-quarters for the poor— the sector is central to
creating more and better jobs at scale and significantly
reducing poverty. |
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