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In a hopeful New Year’s address delivered on December 31, 2024, President Samia Suluhu Hassan celebrated Tanzania’s remarkable economic progress over the past year.
The President highlighted a host of achievements that have strengthened the economy and improved the lives of citizens across the country.
Tanzania’s economy grew by 5.4% in the first half of 2024, a notable increase from the 4.8% growth recorded during the same period in 2023. President Samia attributed this success to the government’s effective fiscal policies and its dedication to maintaining economic stability.
“Our national debt remains sustainable, and inflation has been kept within the target of 3%,” she said, crediting prudent financial management for these positive results.
The President emphasized the role of increased investment in driving the country’s economic growth. Between January and November 2024, the Tanzania Investment Centre (TIC) registered 865 investment projects worth $7.7 billion. These projects are projected to create approximately 205,000 jobs, offering new opportunities for Tanzanians and supporting economic inclusion.
President Samia expressed pride in the progress made but stressed that the journey is far from over. She outlined her administration’s commitment to sustainable development, ensuring that economic gains are distributed equitably among all citizens. Key areas of focus include infrastructure development, enhancing agricultural productivity, and reforming public institutions to improve efficiency and accountability.
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The President also took the opportunity to call on Tanzanians to remain united and continue contributing to the nation’s development. “This progress is the result of collective effort,” she said. “As we move into 2025, let us work together to build on these successes and achieve even greater milestones.”
Looking ahead, the government plans to strengthen its focus on creating an enabling environment for business, fostering innovation, and addressing challenges in sectors like health and education.
