VISION 2050 : Why TZ economy will excel

VICE-President, Dr Philip Mpango has said that if all key players collaborate fully in the preparations for the 2050 National Development Vision, Tanzania’s economy will be one of the strongest in the continent and even in the rest of the globe.

Dr Mpango showed the confidence in the country’s capital Dodoma yesterday, while launching the new process for preparations of the National Development Vision 2050, which is expected to kick off in 2025.

The current National Development Vision is expected to reach its climax in 2025, adding that the existing vision has so far achieved milestone in terms of propelling the country’s economic growth at an average rate of 5.2 per cent as well as pushing it into the lower middle-income status by 2020.

He said the economic growth rate is well above other countries in Sub-Saharan Africa, which stands at an average of 3.6 to 3.9 per cent.

He said for Tanzania, this is an impressive growth especially at this time just when Africa and the rest of the world’s economy appear to be recovering from the Covid-19 pandemic and a range of internal and external shocks striking such as adverse weather conditions and the war between Russian and Ukraine – all of which have worsened already rapidly rising rates of inflation and borrowing costs in 2022.

In his speech, the VP said that as per the economic indicators of the country at this time, Tanzania is pegged to have the best economy in the next 25 years.

Elaborating, he praised President Samia Suluhu Hassan for supervising the National Development Vision that ends in 2025, as he equally saluted leaders and founders of the vision led by several academics and economics gurus including Prof Joseph Semboja, Prof Samwel Wangwe, Prof Mark Mwandosya, Dr Humfrey Mosha, Dr Charles Kimei and Amb Juma Mwapachu, among others.

Giving a bit of snippets concerning the coming 2050 national development Vision, the VP said that it had considered at least four key issues among them, the best life for all Tanzanians.

Others, he said were, strengthening peace, security and good governance, building a well-being community as well as having a comprehensive and competitive economy.

However, the VP was quick to point out that the status of poverty was still an alarm in the country especially in the rural areas, where he said it stood at 31.3 per cent.

He said the Gini coefficient indicates that several regions were still lagging behind in poverty index, naming them as Kagera, Tabora, Singida Dodoma and Kigoma, among others. However, he said, the regions had remained at that level due to their historical backgrounds.

The Gini coefficient measures the inequality among values of a frequency distribution, such as levels of income.

In the drafting of the coming National Development Vision, the VP said, several matters were supposed to be considered including making sure that Tanzania had a consolidated economy.

Others, he noted, stakeholders preparing the draft should ensure that all the pending opportunities that were yet to be tapped were grabbed immediately and that forest products and tourism opportunities were equally looked at.

Lauded the selected members of the team for being picked to prepare the Vision 2050, saying the government and all Tanzanians have high expectations on them.

“This is a call to duty. The new vision is expected to reflect the vision of Tanzanians for the next 25 year, it is expected the new vision will bring economic revolution,” he said.

In her presentation, Permanent Secretary in the ministry, Dr Natu Mwamba said that the team for the coming National Development Vision 2025-2050, would consist of 17 persons in the drafting team with 14 others who will be in the peer reviewing team.

Also, she said, there would be 39 members from sectorial ministries, institutions and research institutions.

Earlier on, the Minister of Finance and Planning Dr Mwigulu Nchemba, said that in drafting the next national development Vision, all stakeholders would be engaged especially youth who have a great future for their country.

Dr Nchemba took time to use an example of the ongoing development Vision which he said had made tremendous strides in the country’s development in all Sectors.

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