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Tanzania’s PM revises GDP growth for 2017 to 7.1 pct from 7.0 pct

DAR ES SALAAM – Tanzania’s economy grew around 7.1 percent last year, beating the government’s own revised forecast, Prime Minister Kassim Majaliwa said.

In November, the East African country trimmed its gross domestic product (GDP) to 7.0 percent from 7.1 percent. That forecast had also been revised from 7.4 percent.

But Majaliwa said East Africa’s third-largest economy grew faster than expected last year owing to an increase in mining activity.

“Latest data … shows that the country’s gross domestic product grew 7.1 percent in the period between January and December 2017, compared to a GDP growth of 7.0 percent in 2016,” Majaliwa said in the parliamentary presentation obtained by Reuters.

The session on Monday was held behind closed doors.

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