9. Tanzania
2016 GDP per Capita: USD 976
2018 GDP per Capita (projected): USD 1112
2022 GDP per Capita (projected): USD 1362
Number nine on the list of poorest economies is Tanzania with an expected USD 1112 GDP per capita for 2018. Tanzania’s economy has been very consistent over the last decade averaging between 6 and 7% growth every year. According to the World Bank, the poverty rate has also steadily declined, however, the absolute number of people living in poverty has not due to the high growth rate of its population over that time.
Economic prospects for Tanzania depend on infrastructure investment, improving the business environment, increasing agricultural productivity, amongst others and growth prospects for this year remain strong. Favorable weather conditions should underpin the agricultural sector, while a ramp-up in infrastructure spending is expected to support investment. However, downside risks stem from the uncertain legal framework for mineral exports associated with President Magufuli’s shake-up of the sector and weakness in the banking system. FocusEconomics Consensus Forecast panelists expect GDP to expand 6.4% in 2018 and 6.5% in 2019.
10. Kyrgyzstan