DAR ES SALAAM, Sept. 14 (Xinhua) -- Tanzania's central bank said on Tuesday the east African nation recorded a 4.9 economic growth in the first quarter of 2021.
The Bank of Tanzania said in a statement that the 4.9 percent economic growth recorded in the first quarter of 2021 was lower than 5.9 percent recorded in the corresponding period in 2020.
The Bank of Tanzania issued the statement after its monetary policy committee met on Sept. 13 to review the conduct of monetary policy and economic performance in recent past and the general economic outlook.
According to the statement, the 4.9 percent economic growth was driven by construction, transport, agriculture, manufacturing, mining and quarrying activities.
The statement said the economy is expected to continue improving, owing to ongoing public investment and normalization of the global economy which will increase private sector investment and trade.
It added that performance of the external sector of the economy continued to face challenges caused by COVID-19, particularly tourism. - Xinhua