Africa-Press – Tanzania. FINANCE and Planning Minister Dr Mwigulu Nchemba announced on Tuesday that the government is implementing monetary policies to limit increasing costs of goods and services following injection of over 1.3trn/- into the economy.
The International Monetary Fund (IMF) approved over 1.3trn/- to help Tanzania respond to the impact of coronavirus. But some MPs cautioned the government that the monies would increase cost of goods especially construction materials as the state advances to implementing various development projects.
“We are aware that if we are not careful this money could raise inflation,” he said while briefing MPs in Dodoma over the priority areas identified by the government to cover the 1.3trn/- released by the IMF to respond to COVID-19.
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