DAR ES SALAAM, July 3 (Xinhua) -- Tanzania's economy maintained strong growth momentum despite external shocks stemming from global geopolitical tensions, Bank of Tanzania Governor Emmanuel Tutuba said on Friday.
Speaking after the Monetary Policy Committee meeting held on Thursday, Tutuba said real gross domestic product (GDP) growth in mainland Tanzania is estimated at around 6 percent in the first half of 2026, supported by robust performance in agriculture, construction, mining, financial services, and transport.
Zanzibar's economy grew by an estimated 6.6 percent during the same period, driven mainly by tourism and construction, with overall growth projected to remain above 6 percent in the second half of the year, he added.
Tutuba said monetary conditions remained moderately accommodative, with private-sector credit growing at an average rate of 24 percent, reflecting strong demand from productive sectors.
He also highlighted the resilience of the financial sector, noting that banks remain profitable, well-capitalized, and supported by low non-performing loan ratios of 2.9 percent, below the 5 percent threshold.
Fiscal performance was also described as strong, with domestic revenue projected to reach 16.8 percent of GDP in 2025/2026, up from 15.6 percent in the previous fiscal year, he said.
Despite global uncertainties linked to the Middle East conflict, Tutuba said Tanzania's economic outlook remains positive, supported by strong fundamentals and prudent policy management. ■