Tanzania, Feb 12 – Tanzania is targeting an inflation rate of 5.0 per cent in the mid-term and is adamant that the goal is achievable. According to reports, the East African’s inflation rate was unchanged at 4.0 percent in January.
Fish, bananas and beans ensured the inflation rate remained the same, in their contribution to the annual headline inflation rate.
The country aims at achieving a 1.0 high as it seeks to improve the economy by boosting the growth and development of businesses.
Tanzania is East Africa’s third biggest economy and has remained to be more competitive in the regional economy.
The country seeks to achieve the growth by ensuring their citizens have security to the vast employment opportunities offered by potential investors with their investments in the country. For the local businesses to grow, the government targets to regulate taxes to attract entrepreneurs.
It may not be possible to keep the value of the currency, keeping in mind the control of the global market by other international markets and oil prices. With the growth in tourism, the government should be able to forecast a possible growth in the future for other industries as well.
It will be easier to regulate the prices of commodities as well with a better inflation rate.