In his speech on the Economy, the Minister for Finance and Planning Hon Dr Philip Mpango reported that in 2020, the national GDP growth is expected to slightly decline from the previous estimates of 6.9% to 5.5%. The decrease is due to heavy rainfall which destroyed the transport infrastructure and impact of the COVID-19 pandemic.
Given this is the final year of the implementation of the National Five-Year Development Plan 2016/17 – 2020/21, the main objective for 2020/21 is to ensure there is an enabling environment for investment and business. This comprises of: (i) improvement in economic infrastructure; (ii) friendly tax and financial policies; (iii) better regulatory framework; (iv) availability of land, work permits and skilled labour force; and (v) emphasising the importance of agriculture in an industrial led economy.
Manager, PwC Tanzania
Tel: +255 (0) 22 219 2617