Tanzania is amongst the world's 10 fastest-growing economies at the rate of 6.8 percent, reveals the new 2020 African Economic Outlook report. A markedly diversified economy, characterized by robust private consumption, substantial public spending, strong investment growth, and an upturn in exports, underpinned the positive outlook. The report poses the challenges of poverty, inequality, and youth unemployment as persisting despite the recent robust growth. It is proposed that policy actions should include measures to improve both the quantity and the quality of education and align education policy with labor market needs. Meanwhile, the 2019 Global Competitiveness Report pointed to some key improvements in ICT adoption, macroeconomic stability, financial system, and business dynamism, reports the outlook.

Source: The North Africa Journal February 03, 2020 08:37 UTC