DAR ES SALAAM, Dec. 19 (Xinhua) -- The World Bank hailed Tanzania for exhibiting robust economic growth over the past two decades, surpassing many developing countries, according to its newly released report.
The report, released on Tuesday in the port city of Dar es Salaam, noted that Tanzania even weathered the COVID-19 pandemic fallouts remarkably well, stressing that the country needs to switch gears toward a more private sector-driven growth model to reach its full development potential in the coming years.
"Tanzania's growth has been impressive, but it needs to be faster, better, and more inclusive," said Nathan Belete, World Bank Country Director for Malawi, Tanzania, Zambia, and Zimbabwe.
The report also showed that Tanzania's structural transformation has slowed in recent years, and the economy has not been able to create enough jobs in higher-productivity sectors, making it harder for people to escape poverty. ■