With all the news of our budget problems and the deficit here in the USA – here is an interesting fact – according to Moody’s Investors Service both rated and unrated sovereigns in Sub-Saharan Africa economies which includes Tanzania, are expected to grow at a rate of 5.5%
In this area the economy rebounded in 2010 after experiencing the global economic crisis. The reason for the growth is attributed to liberalization of domestic industries, better public finance and debt management and a boom in the region’s commodities spurred by growing demand from other emerging markets.
Moody’s also reported that political stability has also improved and a growing middle class has emerged, both of which are leading to profound societal changes that are helping to bolster the region’s resilience.
All of this is good news for Tanzania but also creates challenges on how to balance the growth of your country and the benefit of its people with issues such as wildlife conservation, and environmental issues.