Zanzibar unveils its economic outlook, development plan for 2024/2025
ZANZIBAR: THE Zanzibar economy is set to record an impressive growth throughout next year due to workable measures that are being implemented under the guidelines of Zanzibar Development Plan (ZADEP-2021/2026), the ruling party-CCM election manifesto 2020-2025 and the Zanzibar Development Vision 2050.
According to the economic trend and development plan for 2024/2025 tabled by the Zanzibar Minister of State in the Office of the President (Finance and Planning) Dr Saada Mkuya Salum in the House of Representatives, it states clearly that the government has been taking major measures to improve the state of economy and standard of living in the isles.
She highlighted the most improving sectors as education, health, transport infrastructures which comprises air, sea and land. She said other areas are social welfare, agriculture, fishing, tourism, business and industrial development, reflected in the inclusive economy targets considered in the Annual Plan.
The Minister mentioned the targets boosting as GDP growth to 7.2 per cent in the 2024/2025, control inflation by making sure it remains in the single digit range as set by the East African countries and uplift the ratio of domestic income to 39.1 per cent in 2024 from 26 per cent of 2023.
She added that Zanzibar’s economic growth complies with the agreement of members of the East African Community to have stable inflation, adequate foreign currency reserves demand for imports of goods and services; and per capita income of their citizens in the region to remain above the average of 1,300 US dollars.
“For the year 2024, Zanzibar’s economy is estimated to grow at 7.2 per cent, the growth is attributed to the increased number of tourists by 30 per cent from 638,498 tourists in the year 2023 to 829,929 tourists in 2024,” she said.
She said that the domestic tourists are also expected to increase by 64.5 per cent from 164,084 tourists in 2023 to 270,000 tourists this year.
The Minister added that the government will continue with the implementation of Strategic development Projects, increase public awareness on the importance of paying tax, improve investment environment and boost production in sectors related with the Blue economy.
