06/07/2022
Bank of Tanzania has issued an Economic review for the month of June 2022.
Here are some highlights from the report.
1. Inflation rate 4% recorded in May 2022
2. Fuel ⛽ prices increased dramatically relative to proceeding period in 2021.
* Kerosene up by 44.4%
* Petrol. up by 43.2%
* Desel up by 55.8%
3. Wholesale prices of major food crops was high
4. Food stock - 149,402 tonnes recorded in May 2022
5. Extended money supply grew by 9%
6. T-BILLS Market
- Two auctions were conducted during the month.
- Tenders were oversubscribed
- Yield 3.68%
7. T-BONDS Market
- 2 auctions were conducted (5 years bond & 25 years bond)
- a 5 years bond with yield of 8.94% was undersubscribed.
- a 25 years bond with 12.36% yield was oversubscribed
8. Shilling (TZS) against USD depreciated marginally by 0.06% from TZS 2309.97 per USD in may 2021.
9. Domestic revenue collection - TZS 1,863.1 billion (97.8% of target)
10. National debt - USD 38,085.7 million (External debt - USD 28,149.6 million & Domestic debt TZS 22,860.1 billion)
11. Current account - deficit of USD 3,713.7 million
12. Balance of payment - surplus of USD 242.5 million
13. Foreign reserves - USD 5,206.7 million (cover about 4.7 months of projected imports of goods and services)
14. Exports increased to USD 10,826.9 million
15. Imports amounted to 13,755.8 million