Micro-Economic Growth, Stability Emerges in Tanzania

Micro-Economic Growth, Stability Emerges in Tanzania

Tanzania is expected to achieve micro-economic stability in a few months to come as the inflation rate keeps on declining.

“The inflation rate is now coming down…the decline shows that interest rates are going to come down systematically, which means there will be more stability in economy,” Phumelele Mbiyo, Regional Head- Macroeconomic Research, Stanbic Bank Tanzania said during an economic forum organized by the bank.

He said that micro economies are the fuels of growth in emerging economies. Therefore Tanzania is assured of sustainable growth more than ever before.

Mr. Mbiyo said that, over the course of this year, there is the possibility for the inflation rate to depreciate more due to the fact that food production is going up, oil prices are likely to go down, electricity supply is going to be stable, hence give more opportunity for the microeconomy to experience growth.

Read more at allafrica.com