Foreign reserves, tourism save shilling

Arusha. Former Bank of Tanzania (BoT) Governor Edwin Mtei, yesterday advised the central bank to use foreign currency reserves in a bid to prevent the shilling from depreciating further against the greenback.

Reports that the Tanzanian shilling has been falling against the dollar for nine consecutive weeks is disturbing but not surprising.

Last week, Mwibara MP Kangi Lugola used humour to explain why the shilling had been in free fall in the last few years. The straight-talking CCM lawmaker said a country could not have a strong currency if it imported everything.

Economists and financial analysts say the recent move by President John Magufuli to ban unnecessary foreign trips for public officials could help strengthen the local currency.

East African Business Week
Tanzania: Ban of Foreign Trips 'Good' for Shilling
AllAfrica.com
Dar es Salaam — Economists and financial analysts say the recent move by President John Magufuli to ban unnecessary foreign trips for public officials could help strengthen the local currency. They argued that the move could help institute fiscal ...
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Disturbed by the shilling depreciation against the US dollar, the government is undertaking several measures to cushion the negative impact of a weaker local currency on the economy.

Kenyans working in the private sector will from next month enjoy paid-up holidays anywhere in the country, as the government seeks to revive the tourism industry reeling from insecurity.

Daily News
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DODOMA regional government has set aside 500m/- in the next financial year as incentive to best performing secondary schools, teachers and students. Dodoma Regional Commissioner, Dr Rehema Nchimbi, made the remarks here at the opening of the ...
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Close to half of Tanzania's citizens (46%),  think that the gas should predominantly be used to provide electricity for the country.  The next most popular usage of gas is for global export as 39% of Tanzania's favour this method to stimulate the local economy.  However up to 11% of the people questioned did not  necessarily have a preference for selling to the East African region.