IMF says economy to expand close to 7 pct in 2016

20:32 - 23 March 2016

The International Monetary Fund (IMF) logo is seen at the IMF headquarters building during the 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington, April 18, 2013. REUTERS/Yuri Gripas

The IMF said in a statement that inflation, which averaged 5.6 percent in 2015, was expected to "decrease further"

The International Monetary Fund said on Wednesday it estimates Tanzania's economy expanded by 7 percent last year.

The world financial body then forecast growth to be close to that again in 2016.

The IMF said in a statement that inflation, which averaged 5.6 percent in 2015, was expected to "decrease further in the coming months, remaining close to the authorities' medium-term target of 5 percent."