Finance minister revises growth projection for 2017
196 views · Published 31 May 2017 · 0:43 · Indexed 21 September 2026
Channel: CGTN Africa · 2017 · News & Politics
Tanzania's economic growth projection has been revised following a slow down in private sector credit. Finance minister Phillip Mpango says GDP will expand by 7.1 percent in 2017, down from an initial projection of 7.4%. The drop has also been occasioned by the ongoing spending cuts in the public sector. The International Monetary Fund has warned Tanzania that sluggish private sector credit growth and drastic public spending cuts could threaten economic growth prospects. This year's slowdown comes as President John Magufuli continues to pursue an aggressive anti-graft campaign, with the firing of thousands of civil servants. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
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