{"id":106088,"date":"2024-03-02T16:53:05","date_gmt":"2024-03-02T16:53:05","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit"},"modified":"2024-03-02T17:44:09","modified_gmt":"2024-03-02T17:44:09","slug":"govt-strategises-to-cut-forex-deficit","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit","title":{"rendered":"Govt strategises to cut forex deficit"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>DAR ES SALAAM: <\/b>THE government has devised long-term strategies to bolster exports and reduce the forex deficit in the country, Finance Minister Dr Mwigulu Nchemba said on Thursday.<\/p>\n

In realisation of this initiative, the government will invest more intensively in traditional exports, value addition, and embracing local products to cut imports. Speaking during the 2024 High-Level Strategic Dialogue in Dar es Salaam on Thursday, the Minister for Finance, Dr Mwigulu Nchemba, said that in this financial year, Tanzania will reopen the Export Credit Guarantee Scheme, where the government has allocated approximately 600bn\/- in support of the private sector.<\/p>\n

The objective is for the sector to be fully engaged to boost production by producing processed products, especially agricultural products, to increase exports that will bring more forex into the country.<\/p>\n

\u201cOur long-term and shortterm strategies are to ensure that we increase locally processed products, including edible oil, fertilisers, cement, and many others, which are widely used in the country to reduce importation,\u201d said Dr Nchemba.<\/p>\n

However, Dr Nchemba said the shortage of dollars will ease significantly because the big projects that require dollars are going to be completed, including the Julius Nyerere Hydroelectric Power Project (JNHPP) and the Standard Gauge Railway (SGR).<\/p>\n

\u201cCurrently, the shortage of dollars is a worldwide phenomenon, but what differentiates Tanzania from other countries is that we have large projects that require a lot of foreign currency to foot the bills,\u201d he said.<\/p>\n

Meanwhile, Dr Nchemba said that towards Vision 2050, the government will accelerate resilience and inclusive development in times of uncertainty. Dr Nchemba said that in Vision 2050, the government\u2019s priority is to invest in production sectors that employ more than 75 per cent of Tanzanians.<\/p>\n

\u201cWe will continue to invest significantly in agriculture. When we talk about agriculture in a broad concept, that includes livestock, fishing, forests,\u201d he said.<\/p>\n

He called for coordinated efforts and partnerships with development partners to explore innovative approaches in crafting the national development vision 2050 with a focus on building an inclusive and resilient economy that can withstand global uncertainties.<\/p>\n

On his part, the British High Commissioner to Tanzania and Development Partner\u2019s Group (DPG\u2019s) Co-chair, Mr David Concar, commended President Samia Suluhu Hassan for the changes she made to bring development and create a good environment for investment and business in the country.<\/p>\n

Mr Concar said the dialogue was about collaboration for a shared future, saying the DPG was part of the agenda. He said the development partners are ready to work together with Tanzania to enhance robust macroeconomic achievements.<\/p>\n

\u201cTanzania is a junction where investment in key sectors such as health and education can seize the opportunity for the growth of a country with half of its population being youths,\u201d he said.<\/p>\n

Mr Concar said investment in skills development for the youth is important in achieving the vision 2050, with women\u2019s involvement playing a key role in food production at the family level.<\/p>\n

\u201cTanzania is a destination and space for doing business, where it will become full capacity and create jobs for citizens. It will be good to involve development partners in the high-level strategic dialogue to continue participation so that it can be a sustainable economy that will reduce the employment problem and look at the area of reforms that made Tanzania grow. The dialogues involved diplomats, development partners, ministers, the private sector, researchers, and other development stakeholders.<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in the country, Finance Minister Dr Mwigulu Nchemba said on Thursday. In realisation of this initiative, the government will invest more intensively in traditional exports, value addition, and embracing local products to cut imports. Speaking […]<\/p>\n","protected":false},"author":84,"featured_media":106087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-106088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nGovt strategises to cut forex deficit - Tanzania<\/title>\n<meta name=\"description\" content=\"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt strategises to cut forex deficit\" \/>\n<meta property=\"og:description\" content=\"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-02T16:53:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-02T17:44:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"443\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt strategises to cut forex deficit\",\"datePublished\":\"2024-03-02T16:53:05+00:00\",\"dateModified\":\"2024-03-02T17:44:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\"},\"wordCount\":578,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\",\"name\":\"Govt strategises to cut forex deficit - Tanzania\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg\",\"datePublished\":\"2024-03-02T16:53:05+00:00\",\"dateModified\":\"2024-03-02T17:44:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg\",\"width\":720,\"height\":443,\"caption\":\"Govt strategises to cut forex deficit\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/tanzania\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Govt strategises to cut forex deficit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#website\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/\",\"name\":\"Tanzania\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Govt strategises to cut forex deficit - Tanzania","description":"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit","og_locale":"en_US","og_type":"article","og_title":"Govt strategises to cut forex deficit","og_description":"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...","og_url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit","og_site_name":"Tanzania","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-03-02T16:53:05+00:00","article_modified_time":"2024-03-02T17:44:09+00:00","og_image":[{"width":720,"height":443,"url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Govt strategises to cut forex deficit","datePublished":"2024-03-02T16:53:05+00:00","dateModified":"2024-03-02T17:44:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit"},"wordCount":578,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg","keywords":["Africa Press","Africa Press-Tanzania","tanzania"],"articleSection":["all news","Economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit","url":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit","name":"Govt strategises to cut forex deficit - Tanzania","isPartOf":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg","datePublished":"2024-03-02T16:53:05+00:00","dateModified":"2024-03-02T17:44:09+00:00","author":{"@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"DAR ES SALAAM: THE government has devised long-term strategies to bolster exports and reduce the forex deficit in ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#primaryimage","url":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg","contentUrl":"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/03\/sm_1709388226.649285.jpg","width":720,"height":443,"caption":"Govt strategises to cut forex deficit"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-strategises-to-cut-forex-deficit#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/tanzania\/"},{"@type":"ListItem","position":2,"name":"Govt strategises to cut forex deficit"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/tanzania\/#website","url":"https:\/\/www.africa-press.net\/tanzania\/","name":"Tanzania","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/tanzania\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/106088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/comments?post=106088"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/posts\/106088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media\/106087"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/media?parent=106088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/categories?post=106088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/tanzania\/wp-json\/wp\/v2\/tags?post=106088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}