MWINYI LAUNCHES NEW DEVELOPMENT PLAN

President Mwinyi launched an ambitious new US$ 1.3 billion Five Year Development Plan in the middle of April 1989 which aims to raise gross domestic product growth to six per cent a year by 1992-93. Exports which rose 8% in the first year of the Economic Recovery Programme to US$ 388.0 million in 1987-88 are budgeted to rise to US$ 681.0 million by 1992-93. Reviewing progress during the past few years President Mwinyi told Parliament “Problems are still there but what is emerging is that our efforts are not for nothing.” The Financial Times wrote recently that the reforms are working. Real growth is expected to reach 4% in 1988-89 compared with years of negative growth in the early eighties.

(At time of going to press we do not have the details of the Plan but hope to review it in our next issue – Editor)

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