Economy expands to 7.9pc in second quarter: bureau

>Tanzania’s economy grew at 6.5 per cent in the third quarter of 2013, slightly lower than 7.2 per cent growth in a similar quarter the previous year, National Bureau of Statistics (NBS) announced yesterday.

>Growth of the national economy slowed slightly in the second quarter of this year against the previous performance and compared with the expansion of the economy during the same period in 2013, the National Bureau of Statistics (NBS) said yesterday.

>anzania’s economy grew by 7.4 per cent in the first quarter of this year, driven mainly by communication, transport, industry, construction, energy and water sectors, the National Bureau of Statistics (NBS) said yesterday.

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>Tanzania maintained its place as one of 20 fastest growing economies in the world with its average growth rate of 6.9 per cent between 2005 and last calendar year, it has been reported.

Members of Parliament have asked the government to further consider reducing Pay As You Earn (Paye) imposed on workers in a bid to relieve them of the ever growing cost of living.

Exim Bank Group posted a Sh5.4 billion pre-tax profit during the third quarter of this year.

Kigoma North MP Zitto Kabwe has proposed that the government should further reduce pay as you earn (Paye) to 9 per cent.

Tanzania’s value of exports has increased by 9.2 per cent as manufacturing and tourism improved in the year ending October 2015, according to the Bank of Tanzania (BoT).