Tanzania

President expects inflation to fall


Published

President Jakaya Kilwete has made a statement saying that he expects inflation to fall from 19.2% in November 2011 to single digits by June of this year. He expects the economy to grow by 7% in 2012.

The country has been suffering from power shortages , but the president says that things should improve in the near future.

Meanwhile Finance Minister, Mustafa Mkulo, has announced that the government expects to cut spending by Sh755 billion in this financial year. Spending on development projects such as construction, rehabilitation of roads, railways, airports, ports, water works and power lines are all likely to be affected by the cuts.

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