June 11, 2020 / 7:27 AM / a month ago

Tanzania raises 2020 growth forecast to 5.5% from 4% -finance minister

DAR ES SALAAM, June 11 (Reuters) - Tanzania now expects its economy to grow by 5.5% in 2020 compared with a previous estimate of 4%, finance minister Philip Mpango told parliament on Thursday, after the government took steps to mitigate the economic impact of coronavirus.

Mpango said measures taken by President John Magufuli’s administration, especially its insistence that people should get back to work while taking health precautions, plus expectations about a regional and global recovery, will buoy growth.

The latest projection is more optimistic than the 4% estimate Mpango gave last month, but lower than an initial forecast of 6.9% due to the impact of the coronavirus on key sectors such as tourism.

Reporting by Nuzulack Dausen; Writing by Omar Mohammed; Editing by Catherine Evans

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