The Bank of Tanzania (BOT) has said the economy of the country and its indicators are still stable.
Speaking to journalists, the governor of BOT Prof. Florence Luoga said that the economic indicators show that Tanzanian economy is not shaking.
According to Prof. Luoga, until now the treasury has more than 5.4 billion dollars reserved, an amount that can be used for 5 months without economic instability and may also finance big project like standard gauge rail way (SGR)
“Our economy is stable as well as its indicators, early the morning I went to our treasury, I saw our reserve has amount of 5.4 billion after different payment done. This amount will be used for five months and we may use it in our big projects like SGR” the governor said.
On the other hand the governor elaborated that the presence of such amount does not mean that Tanzania will not loan from other countries but it will continue to do so to insure provision of good services to its people.
The governor added that the government is making good environment to its people through different ways including loaning to other countries for the benefit of its people and the next generation who will come to pay the debt.
“It’s not right for the next generation to use everything they will meet, we are loaning to build the country and during their time they will come to pay as we are doing now” Prof. Luoga said.