Tanzania, Rwanda growth slows but beats foretasted rate for Sub-Saharan Africa

PUBLISHED: Mon, 02 Jan 2017 15:05:22 GMT

DAR ES SALAAM (Reuters) – Tanzania’s economy grew 6.2 percent in the third quarter of 2016, compared with 6.3 percent in the same period the previous year, Finance and Planning Minister Philip Mpango said on Monday.

The East African nation’s economy has been growing robustly, helped by expansion in the transport, mining, communications and finance sectors.

Mpango reaffirmed a forecast of 7.2 percent growth for the financial year ending June 2017.

Rwanda’s economy grew by 5.2 percent in the third quarter of last year, down from 5.4 percent in the second quarter and 5.9 percent in the same period in 2015, according to data published by the statistics office.

The central African nation has posted soaring growth rates in recent years mostly fuelled by business-friendly policies, and strong inflows of foreign investment.

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