Welcome to Tanzania
Tanzania maintained its trajectory of modest GDP growth in 2009, although at 5.2 percent compared to several prior years averaging 7 percent growth. The global financial crisis affected Tanzania’s economic performance mainly through declining tourism and agricultural receipts as well as through lower investment. Pressures from rising oil and food prices drove inflation over 13 percent in 2009, although there were signs that food prices were easing. The government, with IMF support, provided a stimulus which propped up declining cashew and cotton prices and subsidized agricultural inputs. As the global economy recovers, investment, trade and tourism will likely accelerate. Tanzania remains among the world's poorest countries, and the Government of Tanzania (GOT) depends significantly on donor budgetary support. In 2010, the East African Community's Custom Union is scheduled to take full effect.
