In 2013, the economic and monetary policies of the Government of Tanzania continued to focus
on sustaining macroeconomic stability and growth through implementation of the Five-Year
Development Plan. Inflationary pressure eased progressively to single digit in March 2013 after
staying in double digits for 21 months and reached 5.6% in December 2013. This development
was a result of improved food supply, fiscal consolidation and tight monetary policy engineered
by Bank of Tanzania. There are more opportunities for growth currently in Tanzania with the
licensing of 7 blocks for oil and gas exploration currently underway. These favorable economic
conditions often translate into attractive market growth for deposits and loans.
Activity reports
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Activity report BOA-Tanzania 2013 -
Activity report BOA-TANZANIA 2012Tanzania’s economy performed well in 2012, recording GDP growth of 6.5% despite rising inflation and liquidity challenges. The country’s economic prospects are also positive as forecasted from government spending on infrastructure and projected Foreign Direct Inflows (FDI) in extractive oil and gas industries.
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Inflation reached two-digit figures in 2012, peaking at almost 20% at the beginning of the year, and by the end of 2012 this rate had declined to 12.1%. The Tanzanian shilling was also under pressure due to high demand of forex to import oil for power generation and transportation. -
Activity report BOA-TANZANIA 2011The year 2011 was characterized by a number of changes in the micro and macro-economic environment in East Africa as a whole and Tanzania in particular. These included high inflation, rising from 6.4% at the beginning of the year to 19.8%; high interest rates with 91 day Treasury Bills rising from an average of 5.9% in January to close the year at 13.1%, and the Tanzania Shilling depreciating by 7.7%.
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Activity report BOA BANK-TANZANIA 2010In 2010, the economic and monetary management policies of the Government
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of Tanzania focused on slowing inflation and bringing annual inflation to a
single digit; reducing the dependence on donor support for the budget to
about 50%; and continuing a program aimed at making Tanzania self sufficient in
food production.
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Activity report BOA BANK-TANZANIA 2009The economic policies of the Tanzanian Government focused on reducing the impact
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of the global financial crises. Stimulus packages, by way of working capital support,
export based guarantees and loan re-scheduling relief, were granted to distressed
industries operating in the most vulnerable strategic sectors of the economy. To insulate
the financial markets from the potential devastating effects of the crises, the Bank
of Tanzania intensified its oversight of the banking system
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Activity report BOA TANZANIA 2008
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Activity report BOA BANK-TANZANIA 2007