Power cuts slow Tanzanian economic growth
Power cut has slowed Tanzanian economic growth.
The government said frequent power blackouts caused Tanzania's economic growth rate to slow to 6.5 percent in the fourth quarter of last year from 6.7 percent a year earlier, The National Statistics Bureau said electricity output fell 1.7 percent compared with 9.7 percent growth a year ago, with low water levels crimping hydroelectric production and maintenance work affecting gas-fuelled power generation. According to all Africa.com the electricity crisis caused growth in the manufacturing sector to decline to 6.6 percent from 9.9 percent a year ago, Mining rebounded to grow at 1.2 percent from negative 9.1 percent a year ago, helped by an increase in gold production and higher prices of the precious metal at the world market. Tanzania is Africa's fourth-largest gold producer and its mining sector has attracted major investment over the past decade.IMF said in March it expects Tanzania's economy to expand by 6.5 to 7 percent in 2012-13. (All Africa)