Tanzania's central bank sees growth rebound in 2010.
Tanzania's economic growth could rebound in 2010 to more than 6 percent if the world overcomes the economic downturn, the central bank governor said on Friday.
Tanzania, the second largest economy in the five-nation East African Community bloc, expects growth of 5-6 percent this year, down from 7.4 percent in 2008, due to the effects of the global economic slowdown.
"We are expecting 2010 to start moving up again, the global recovery should certainly push us, maybe towards 6 (percent) and above," Benno Ndulu told Reuters on the sidelines of a regional meeting of central bank chiefs.
He said the downturn had hurt demand for the country's coffee, cotton, tourism and gemstones.
Tanzania, whose relative macroeconomic stability has made it popular among foreign investors, has suspended plans to raise funds through a Eurobond, but is hoping to get support from the International Monetary Fund to boost the economy. Source reuters