IMF Says Tanzania Economy May Expand 7.2% in 2012 on Increased Rainfall

Tanzania’s economic growth will probably accelerate to 7.2 percent next year from 6 percent in 2011 if the country has better rains after dry conditions this year, the International Monetary Fund said.

The East African nation will fall short of an “ambitious” tax revenue target for the fiscal year through June and may need to further reduce spending, the Washington-based institution said in a statement on its website yesterday.

To contact the reporter on this story: Sarah McGregor in Nairobi at smcgregor5@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net

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