Tanzania is a rapidly growing emerging market; it ranks among the 20 fastest growing economies in the world. The country has exhibited a GDP growth rate of around 7% for the past 10 years and it is predicted by the IMF and World Bank to continue this rapid growth for the next decade
Over the past two decades, it has been transformed from a centrally planned economy to a market-oriented system through successful implementation of free-market orientated reforms. The Government has encouraged private sector-led growth through the restoration of market forces and less Government intervention in commercial activities. Overall the reforms have resulted in positive growth trends and impressive macro-economic indicator s with inflation rates falling from 27.4% in 1995 to about 3.4% in 2019.