Global shocks widen current account deficit

Emmanuel Tutuba, Bank of Tanzania Governor. PHOTO | COURTESY

Dar es Salaam. Global shocks that caused a dollar shortage have led to a widening of the country’s current account deficit, according to the Bank of Tanzania’s (BoT) newly released monthly economic review for August.

As a result, gold and dollar reserves have dipped below the SADC benchmark, as the monthly economic review (MER) report further shows.