IMF boss wants Tanzania to achieve goal of middle income sectors
International Monetary Fund (IMF) Deputy Managing Director Mr Tao Zhang
What you need to know:
- He said this on Wednesday during a meeting on ‘Achieving Tanzania's goal of middle income stators.’
- He said to facilitate private sector led growth, the plan targets there was a need to scale up infrastructure gaps through investment in transportation, logistics and energy generation and distribution.
Dar es Salaam. International Monetary Fund (IMF) Deputy Managing Director Mr Tao Zhang has emphasized the need for African countries to find the right balance between public and private sectors in order to support economic growth.
He said this on Wednesday during a meeting on ‘Achieving Tanzania's goal of middle income stators.’
He said to facilitate private sector led growth, the plan targets there was a need to scale up infrastructure gaps through investment in transportation, logistics and energy generation and distribution.
"It is crucial to mobilize more private and public resources within Tanzania, especially by strengthening tax collection under fair and predictable tax regime," he said.
According to him, Tanzania has lagged behind its neighbors in this area, and should therefore set up public private partnerships and expand the reach of the banking system to mobilize more savings.
