23 C
Accra
Thursday, August 6, 2020
No menu items!

Tanzania becomes a middle-income country

Must Read

Director of Animal Research Institute behaves insolently to Lands Minister following queries over encroached lands

The Minister of Lands and Natural Resources, Kwaku Asomah Cheremeh, is to launch investigation into how State lands belonging...

Ote Waterfalls treetop walkway nears completion

The construction of a canopy walkway over the Ote Waterfalls at Amedzope in the Ho West District of the...

Students vandalise school property in protest against social distancing in exam hall

Students of Ndewura Jakpa Senior High Technical at Damongo in the West Gonja Municipality have vandalised school property in...

Tanzania is now officially a middle-income country after the World Bank published a reviewed classification of world economies.

The East African nation enters into that bracket of middle-income countries with a GNI per capita of between $1,006 (£806) and $3,955 – a rough measure of each person’s annual national income.

Last year, Tanzania’s economy grew by 6.8% in 2019 and 7% in 2018, one of the fastest growth rates in the world.

According to analysts, this rate of growth has been going for over a decade, and continued after President John Magufuli took office.

The country is the second largest economy in the region and now joins Kenya as the second East Africa Community member state in the middle-income bracket.

Apart from lifting millions out of poverty, the real benefit or even loss of graduating from least developed country status should become apparent for Tanzania in the coming days.

SourceBBC NEWS

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Director of Animal Research Institute behaves insolently to Lands Minister following queries over encroached lands

The Minister of Lands and Natural Resources, Kwaku Asomah Cheremeh, is to launch investigation into how State lands belonging...

Ote Waterfalls treetop walkway nears completion

The construction of a canopy walkway over the Ote Waterfalls at Amedzope in the Ho West District of the Volta Region is near completion. The...

Students vandalise school property in protest against social distancing in exam hall

Students of Ndewura Jakpa Senior High Technical at Damongo in the West Gonja Municipality have vandalised school property in protest against the 1.5 meter...

Assembly Member donates to Lawui and Logote communities

The Assembly Member for Wute Electoral Area in the Akatsi South District, Mr. Wisdom Akpablie, has donated sewing machines and sets of computers to...

WAEC investigates alleged exam malpractices in WASSCE

The West Africa Examination Council, WAEC it has begun investigations into alleged Examination malpractices in some Senior High Schools in the ongoing WASSCE. The Council...

More Articles Like This