Coronavirus Economy Export Industry and Commerce Report Tanzania Tourism Trade

World Bank expects Tanzania’s economic growth to fall to 2.5% in 2020

Tanzania’s economic growth is expected to drop to 2.5% in 2020 from 6.9% last year, the World Bank said, citing the impact of the coronavirus pandemic.

“International travel bans and caution against contracting the virus have severely hurt the tourism sector, which had been one of the fastest-growing sectors in the economy,” the bank said in a statement.

It said the east African country’s economy would also be hurt by a decline in export demand, supply chain disruptions for domestic manufacturers and weak domestic consumption.

Source: Reuters

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