Tanzania: Poverty reduction initiatives continue questionable
Published on Thu, 2013-02-21 17:41
Tanzania is endowed with abundant natural resources but lacks mechanisms for utilizing them effectively for micro and macro development. Invitation to foreign and local companies to invest in key economic sectors is yet to yield expected results. For instance, incentives and tax evasions are so high. The government is therefore urged to diversify the economy and find more viable and alternative sources of revenues for economic development.
Although the Tanzania Gross Domestic Product (GDP) experienced a slight increase between 1998 and 2008. Per capita GDP increased from USD 323 in 2001 to USD 440 in 2008, the country’s poverty margin is still enormous as about 75% of Tanzanians are poor farmers living in rural areas. Generally, poverty rates is higher in rural areas (37.6%) compared with large cities like Dar es Salaam (16.6%).
The 2013 national report makes analysis of challenges that Tanzania face in implementing the adopted initiatives against causes for [the] challenges and suggesting alternative solutions to be taken in reducing or eradicating poverty in Tanzania.