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Kikwete sets 7.3pc GDP growth rate
2008-01-01 09:16:42
By Patrick Kisembo
The government has promised to reach the target of 7.3 per cent of economic growth this year. This was said yesterday by President Jakaya Kikwete in his televised New Year address to the nation.
“Our direction for collection of government revenue has so far been good and gives us great expectations. We do not hesitate that we shall reach targets we have set for the fiscal year 2007/2008,” said President Kikwete.
The President, however, admitted that inflation was high and remained a problem. “This thing has waves. The inflation rate has increased from 6.2 per cent in November 2006 to 7.3 per cent in November 2007,” he said.
He said there was a big challenge to deal with high inflation in order to make life affordable this year.
“I know where difficulties arise from the fact that fuel prices are too high. The signs that these prices will go down are bleak,” he said.
The President called on the wananchi to ensure that production of food and other items was increased so that their scarcity should not accelerate the current rate of inflation.
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