Tanzania banks on domestic revenue sectors, controls spending due to global unrest

DODOMA: TANZANIA has outlined two key measures to mitigate potential economic shocks arising from the ongoing war in the Middle East, as global oil markets face growing disruption.

The conflict involving the United States and Israel against Iran has already begun to affect crude oil production and transportation worldwide, following the reported closure of the Strait of Hormuz, through which about 20 per cent of global oil shipments pass.

Responding to a question from Tunduru North MP, Ado Shaibu in the Parliament earlier today, April 2, 2026,, the Prime Minister Mwigulu Nchemba said the government’s immediate focus is on boosting mining activities and tightening public expenditure to cushion the economy.

The MP sought clarification on government preparedness to manage expected ripple effects on transport, mining operations and insurance sectors.

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Additionally, the Premier acknowledged that Tanzania is not insulated from global economic shocks, noting that as a trading nation it will inevitably feel the impact of the unfolding crisis.

He stressed that the government is monitoring developments closely while reinforcing domestic revenue-generating sectors and controlling spending to maintain economic stability amid global uncertainty.