Tanzania, Jan 11 – Tanzania is poised to register a strong economy this year, thanks to a decline in the country’s inflation rate.
2017 year-on-year in December, the rates went down by 0.4% to register at 4.0% with slower food price increases influencing the digits.
Month-on-month inflation in December was 0.2 per cent, declined from 0.5 recorded in November.
The statistics have gone ahead to hint at an “incredible” year for the Sub-Saharan country, that will see great investments spring up into the country.
National Bureau of Statistics have hailed the reports that will give the country grounds to be more competitive with their exports and in turn gain more foreign exchange to spur its economy.
Firms will be more than happy to invest, especially in tourism sector with the country voted to be a top flight destination in East Africa’s tourism 2018. The sector boasts of a “winning streak” in the industry edging out Kenya and Uganda.
The investments will spur better production for the country, having enough to feed the citizens and spare enough to for export.
Food and non-alcoholic beverages inflation rate decreased to 6.2 percent in December from 7.4 percent in November.