Browsing: Tanzania Economy 2020

The monthly economic review produced by the Tanzania central bank (BoT), depicted rather positive prospects of the economy, such as inflation, fuel prices and food stocks, despite the grim grip of the coronavirus (COVID-19), which hurt several sectors of the economy.

The report published on Tuesday, marking the financial year ending June 30, 2020, also displayed good performance of the exports, foreign exchange reserves and interest rates.

Revenue collection

Government budgetary operations took a slight hit, as the domestic revenue collection performed below the target due to the virus grip, standing at almost $559,000.

“However, the collection was higher than in the corresponding %54.4 million and an increase of $ 867.1 million from the end of the preceding month and the corresponding month of 2019, respectively. Much of the external debt stock was central government at 78.2 per cent” the monthly review noted.

Domestic financial markets

According to the central …