DAR ES SALAAM, Dec. 19 (Xinhua) -- Tanzania's central bank said the country's economic performance was satisfactory in 2023 despite the spillover effects of the global shocks.
The Bank of Tanzania said in a statement released on Tuesday that the economic performance is expected to further improve in the subsequent year on account of the implementation of growth-enhancing policies and increased private sector investment.
Specifically, growth in the first and second quarters of 2023 was 5.4 percent and 5.2 percent, respectively, bolstered by the diversified nature of economic activities, according to the statement.
A recovery in economic activities was also observed in Zanzibar, owing to a remarkable improvement in tourism and public and private investment, said the statement. ■