Summary: A recently released World Bank report titled ‘Privatizing Growth’ emphasizes the need for Tanzania to shift towards a more private sector-driven growth model to sustain its impressive economic trajectory of the past two decades. While Tanzania has exhibited robust growth, the report highlights a slowing structural transformation and a diminishing role of exports, making the country vulnerable to global market changes. To address these challenges, the report recommends five priority policy actions, including accelerating business climate reforms, aligning social policies with domestic market orientation, improving agricultural productivity, addressing tourism-related bottlenecks, and leveraging regional integration to unlock export potential. The goal is to achieve a more balanced and inclusive growth pattern for Tanzania’s long-term development.
https://www.worldbank.org/en/news/press-release/2023/12/19/tanzania-urgent-reforms-needed-to-enable-strong-private-sector-led-inclusive-afe-1223#:~:text=According%20to%20the%20newly%20launched,slowing%20structural%20transformation%2C%20and%20a
