United Republic of Tanzania

Tanzania Economic Outlook

Real GDP growth slowed to 4.7% in 2022 from 4.9% in 2021 due in part to the impact of Russia’s invasion of Ukraine, notably on food and energy prices. Growth was driven by services and agriculture on the supply side and by investment and consumption on the demand side. The accommodative monetary policy was tapered in June 2022 to contain inflationary pressures while supporting the growth recovery. But rising food and fuel prices pushed inflation to 4.3% in 2022 from 3.7% in 2021. Exchange rates remained stable, supported by high gold exports and tourism receipts.

Key Facts

Flag:

Capital:

Dodoma

Population 2023:

65.5 million

Date of membership:

10 September 1964

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Bank intervention strategy

Priority area 1 – Sustainable infrastructure for a competitive economy
Priority area 2 - Improved private sector business environment for job creation.

Under Priority area 1, the Bank Group support: (i) development of quality multi-modal transport infrastructure including roads, water transport, railways, and airports; (ii) development of generation, transmission and distribution infrastructure for clean power; and (iii) development of water and sanitation infrastructure.

Dakar 2 Summit: H.E. Samia Suluhu Hassan, President of Tanzania's social media video

The African Development Fund supports the Tanzanian Center of Excellence for Cardiovascular Science

Tanzania, Dar es Salaam: Dodoma City Outer Ring Road Project

Africa Fertilizer Financing Mechanism: New Strategy, October 2021

Tanzania - AFFM - Trade Credit Guarantee Project

A Bank project is addressing the agrodealers' financing challenges in Tanzania

News and Events

(L-R) Dr. Fatih Birol, Executive Director, International Energy Agency; Sierra Leone President Julius Maada Bio; United Republic of Tanzania President Dr. Samia Suluhu Hassan; Togolese Republic President Faure Gnassingbé; Norway Prime Minister Jonas Gahr Støre; Executive Vice President of European Green Deal, Interinstitutional Relations and Foresight Maroš Šefčovič; African Development Bank Group President Dr. Akinwumi A. Adesina

15-May-2024

African Development Bank commits $2 billion as it leads the way at landmark summit for access to clean cooking in Africa

Nearly 1 billion Africans cook with polluting fuels, causing 500,000 deaths annually, mostly women and children, while also devastating forests through wood collection.

10-May-2024

Paris Summit Aims to Secure Commitments Toward $4B Needed to Close Clean Cooking Funding Gap for African Women

28-Apr-2024

President Suluhu lauds partnership with African Development Bank Group at anniversary to mark 60 years of Tanzania, Zanzibar union

11-Apr-2024

African Development Bank President Adesina to co-chair Clean Cooking in Africa Summit with leaders of Tanzania, Norway and International Energy Agency

The African Development Bank's line of credit to Bank of Africa Tanzania Limited will facilitate the import of pharmaceuticals, solar panels, agricultural machinery and fertilizers, as shown here.

19-Dec-2023