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Tanzania Sees Economic Growth in Tough Times

Even though the world economy is vulnerable to tighter financial circumstances, climate-related threats, the ongoing crisis in Ukraine, and the cumulative consequences of the COVID-19 epidemic, the threats to Tanzania’s economy have been reported as mild, according to a recent study. According to the Bank of Tanzania’s (BoT) Financial Stability Report, the favorable macroeconomic climate, the revival of corporate activity, and the government’s policy initiatives were the major causes of the moderate risk. According to the research, a resurgence in economic activity, rising family income, and loosened credit standards by banks were the primary factors that kept the danger to individuals and non-financial corporates at bay.