Samia Suluhu Claims Tanzania’s Economy Outperforms US, Europe: “Doing Very Well”

• Tanzanian President Samia Suluhu claimed that East African economies, including Tanzania’s, are currently performing better than the United States and many European nations
• She emphasised that countries dependent on aid risk public embarrassment and loss of dignity when they cannot repay debts
• The Tanzanian shilling has rebounded from being Africa’s worst-performing currency in early 2025 to one of the best

Elijah Ntongai, a journalist at TUKO.co.ke, has over four years of financial, business, and technology research and reporting experience, providing insights into Kenyan and global trends.

Samia Suluhu, Tanzania’s president, has claimed that East African economies, including Tanzania’s, are doing better than the US and many European economies.

The president was speaking on June 16, during the opening of the Tanzania Revenue Authority (TRA) building in Simiyu Province.

Samia Suluhu calls for less depended on aid

Suluhu called for less dependence on aid, noting that even the developed economies are currently struggling compared to East African countries due to geopolitical conflicts.

“If you depend on aid, just know those who give aid are also in trouble. The whole world is currently upside down, wars, conflicts, unrest; economies have declined. They are not doing as well as we are. Those who can do research should go ahead and investigate. Europe and the US are not doing well economically right now compared to how we’re doing here. Even within our own East African region, Tanzania is doing very well. So I kindly urge you, my TRA team, let’s go out and collect,” Suluhu said.

President Samia Suluhu said that when one has their own resources, they are able to plan and spend as they wish. She explained that relying on others for support or loans places a person in a vulnerable position, as they can be publicly confronted over unpaid debts, which ultimately diminishes their dignity and lowers their status.

“When you have your own resources, you can plan and spend as you wish. If you rely on someone to give you or to lend you, you’re not in a good position. They will confront you in public saying, ‘You haven’t paid my debt; you owe me my money.’ Is your dignity still intact? No, they’ve already embarrassed you and lowered your status. But when you have your own, you know how to plan and spend accordingly,” Suluhu remarked.

World Bank projected growth

The World Bank recently revised its economic growth forecasts for 2025, painting a mixed global picture due to the ongoing geopolitical conflicts.

The United States is expected to post a modest 1.4% growth amid rising trade tensions and inflation.

Tanzania is forecast to grow by approximately 5.5%, while Kenya’s economy is expected to grow by 4.5% in 2025, with prospects of reaching 5.0% by 2026–2027, driven by easing inflation and improved credit access.

Uganda is expected to grow its economy by 6.2% in 2025 and surge to 10.4% by FY27, thanks to the anticipated start of oil production. Rwanda leads the region with a projected growth of 7.6% in 2025.

Call for revenue collections.

Suluhu urged the authority to enhance revenue collection efforts to finance domestic projects and enable the country to cut its external borrowing.

“We have built all these projects ourselves, except for one I inaugurated in the morning. And this isn’t unique to Simiyu, it’s the whole country. Many projects are ongoing. Yes, there are some funded through aid and loans, but the major part comes from what we collect internally. What I want to tell you, my children, my brothers and sisters at TRA, is that a person who is proud and confident is one who has their own,” Suluhu said.

TZS swings from worst to best performer

In other news, the Tanzanian shilling (TZS) has swung back from one of the worst-performing currencies in the world to one of the best.

The TZS experienced prolonged depreciation from January 2025 to become Africa’s worst-performing currency in 2025.

Tanzanian authorities made the decision to ban domestic use of US dollars and other foreign currencies. This increased dollar supply and raised the demand for the TZS, which has largely contributed to its recovery.

Source: TUKO.co.ke