Omusolopogasi
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Bado atakuwa na nafuu ukilinganisha na sisi tunaoipwa mshahara katika TZS.
Bado atakuwa na nafuu ukilinganisha na sisi tunaoipwa mshahara katika TZS.Na kitu ulichokuwa unakinunua kwa 2500 sasa utakinunua kwa 3000. Kumbuka wafanyabishara huongeza bei zaidi ya hiyo fluctuation ya dola kufidia possible future fluctuations.
Bado atakuwa na nafuu ukilinganisha na sisi tunaoipwa mshahara katika TZS.
Waambie "wazalendo wa kweli" waandamane kuunga juhudi za kupolomosha shillingi kw graph hii mpka 2020 itkuwa 3500.
Hadi mwisho wa mwaka, naiona US$ 1 ikiwa sawa na TShs 3,000Closely monitor falling of shilling, experts caution
Saturday February 23 2019
In Summary
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- Tanzanians will now have to dig deeper into their pockets to pay for imports and finance the national debt as the value of the national currency keeps depreciating against the US dollar.
By Alex Malanga @ChiefMalanga amalanga@tz.nationmedia.com
Dar es Salaam. Tanzanians will now have to dig deeper into their pockets to pay for imports and finance the national debt. This is basically on account of the relentlessly depreciating value of the national currency, the shilling against the United States dollar.
A random survey of some bureaux de change in the nation’s commercial capital Dar es Salaam yesterday established that the dollar was sold at up to Sh2,415. This is the lowest level to which the local currency has declined in the last three years and seven months.
In the same vein, commercial banks sold one dollar at Sh2,436, up from Sh2,298 at the end of last week.
Impact
Prof Honest Ngowi of Mzumbe University’s Economics Department told The Citizen that importation costs would escalate.
Almost inevitably, he said, businesses would transfer the extra costs onto consumers by increasing prices as a matter of course.
“Depreciation of the shilling can distract the implementation of individual, organisational and government budgets,” Prof Ngowi warned, adding that “confidence in the shilling would fall. This is bad for the country.”
He also said that the cost of financing the national debt would go up, even without having borrowed more.
This would adversely affect the implementation of development projects in such crucial sectors as Health, Education and Infrastructure.
Dr Charles Sokile is the managing director of Oxford Policy Management (OPM) in Tanzania, a research institution. He said that, if the currency depreciation is not effectively addressed, it would also increase domestic production costs, as manufactures would have to import raw materials at higher prices.
“Eventually, the consumer will suffer the consequences. Locally produced goods would become uncompetitive at the marketplace,” he warned.
These sentiments were echoed by a reputable business consultant and economist, Dr Donath Olomi, who said that, without stability in exchange rates, businesses would suffer.
Why the depreciation?
Prof Ngowi attributed the trend partly to a decrease in export volumes of cashew nuts, as a result of a delay in the commencement of exports.
Earnings from cashew nut exports decreased by 62.9 per cent during the year that ended on December 31, 2018, compared to the same period a year before – falling to $196.5 million (Sh472 billion).
Prof Ngowi also linked the depreciation with the recent crackdown by the Bank of Tanzania (BoT) on bureaux de change, which saw to a decrease in supply of the greenback.
For his part, Dr Sokile attributed the drop in value of the shilling to massive infrastructural development projects like the Standard Gauge Railway and Stiegler’s Gorge hydropower station, whose implementation require the use of dollars.
He also said that strengthening the business environment during the past two years – which saw to the closure of some businesses – had a hand in the depreciation of the national currency.
The drop is also partly attributable to the decline in foreign direct investments (FDIs) for the third year running.
According to the United Nations Conference on Trade and Development (Unctad), FDI flows to Tanzania dipped by 24.4 per cent in 2017, to $1.18 billion (Sh2.8 trillion), compared with the 2015 level.
Solution
Prof Ngowi called for more exports in terms of volume and quality, to earn more foreign exchange.
To that end, he suggested creation of a friendly environment that would attract more tourist dollars.
Calling for modest remittance costs to encourage more Tanzanians in diaspora to send money to their motherland, Prof Ngowi also suggested improving relations with donor countries and other development partners.
Dr Sokile was of the view that the government should closely monitor the situation to enable it decide whether or not intervention by releasing more dollars to stabilise the shilling would be the best option. He also urged the government, working through the Tanzania Trade Development Authority (Tantrade) to encourage more exportation.
For his part, Dr Olom, stressed that the government should create a business-friendly climate by removing obstacles, thus spurring both local and foreign investments.
In late January this year, BoT said the shilling was not in a crisis, explaining that the current movement in the exchange rate was a seasonal phenomenon related to low foreign exchange earnings from tourism and crop exports.
“This is a common trend that usually normalizes in the second half of the year when earnings from tourism and exports pick-up,” reads the central bank’s statement in part.
UmenenaUtashangaa wana FREEZE ACCOUNT ZA USD$ za wafanyabiashara wa Tanzania nchini, halafu wanaitwa mmoja mmoja kuulizwa kipato chao na wamezipata wapi. Ukishindwa kujielezea unazulumiwa.
Haya ndio malipo ya kuwa na MDOMO UNAOROPOKA ROPOKA HOVYO, na KUJIFANYA MJUAJI. Akili zao hazina Akili, walivyokua wanalazimisha TRA kuwasumbua wafanyabiashara na kuwapiga kodi/fine za ajabu walitegemea nini. Na walivyokua wanatukana watu ambao walikuwa wanatupa misaada ya MILLIONS OF USD$ ANNUALY na kuwadhalilisha sijui walitegemea wataongezewa misaada zaidi.
Wana maamuzi ya ajabu sana hawa viumbe. Wanaweka VIONGOZI kwenye sekta muhimu, kuwaongoza watu wanaowazidiwa maarifa na elimu. Mfano Mkoa wa Dar Es Salaam una MA-PROFESOR, MULTI-BILLION BUSINESS MAN, HIGH COMISSIONS wangapi??? Na aliepewa mamlaka ya kuwaogoza je ana uwezo huo???
Sad to see where we are going.
Eti wanataka Sera za kikomunist kuendesha uchumiKuna tatizo kubwa kuliko Korosho, hatuwezi kuwa nchi tegemezi la korosho na kama ni kweli basi ni aibu kubwa sana. maana nikisia majigambo ya wanasiasa sisi ni donor country halafu kumbe ni Korosho tu!! mimi nadhani sababu kubwa labda sina uhakika, hakuna tena direct investments na hata kilichopo ndani watu wanakitoa nje kwa hofu kwa maana watu na change Tsh kwa wingi kuhifadhi $ maana mwenye Tsh anogopa pesa yake inapoteza thamani na hii ikianza panic mode tu very soon utaambiwa hawauzi $ ila wananunua tu ujue hali ni mbaya na kurudisha imani ni process ndefu sana. Kuna sehemu Gov wamevuta kulipia miradi mikubwa BOT hawana uwezo tena control soko. Hii mambo ya kujisifia tumenunua kwa pesa zetu cash, mradi pesa yetu sasa unajiuliza cash hii ya $ imetoka wapi ya kufunds hizi projects. kwa maana nyepesi unatumia pesa kuliko uwezo wako na hata kitabu cha Mangi kimejaa madeni unahama duka lakini huko nako unajaza kitabu jirani hana uwezo nayeye au unawamaliza na majirani inabaki sasa ukubali matokeo. Jamani siasa pembeni lazima uchumi uachwe huru ili wafanya biashara wapate faida, walipe kodi, faida wawekeze tena, wa nje wavutiwe kuinvest sio kinyume cha hapo. kwa ufupi hakuna cha korosho wala nini ni siasa mbovu za uchumi ni time tukapiga break na kujithamini. Unatumia pesa nyingi kuliku uwezo wako halafu utegemee same results lazima utakuwa kwenye shida.
Ndio factor ya kushuka thamani ya shilingi kwasababu RC wa Dar es salaam sio msomi?Utashangaa wana FREEZE ACCOUNT ZA USD$ za wafanyabiashara wa Tanzania nchini, halafu wanaitwa mmoja mmoja kuulizwa kipato chao na wamezipata wapi. Ukishindwa kujielezea unazulumiwa.
Haya ndio malipo ya kuwa na MDOMO UNAOROPOKA ROPOKA HOVYO, na KUJIFANYA MJUAJI. Akili zao hazina Akili, walivyokua wanalazimisha TRA kuwasumbua wafanyabiashara na kuwapiga kodi/fine za ajabu walitegemea nini. Na walivyokua wanatukana watu ambao walikuwa wanatupa misaada ya MILLIONS OF USD$ ANNUALY na kuwadhalilisha sijui walitegemea wataongezewa misaada zaidi.
Wana maamuzi ya ajabu sana hawa viumbe. Wanaweka VIONGOZI kwenye sekta muhimu, kuwaongoza watu wanaowazidiwa maarifa na elimu. Mfano Mkoa wa Dar Es Salaam una MA-PROFESOR, MULTI-BILLION BUSINESS MAN, HIGH COMISSIONS wangapi??? Na aliepewa mamlaka ya kuwaogoza je ana uwezo huo???
Sad to see where we are going.
MbigwaVery well said but from this one man show government don’t expect any concrete measures to be taken in order to rescue our falling currency.
Mbigwa
Naona umepata pakuanzia(kudandia),hizi siasa za kuviziana tutafika vizazi kwa vizazi kufanikiwa.
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Sawa ila ujatoa solutions zaidi ya kubeza tu.Acha ujinga kama huna la maana la kuandika kaa kimya. Katiba imetupa haki Watanzania kujadili mazuri na mabaya yote bila kificho wala woga.
Jawabu Jiwe awe anasakiliza maoni na ushauri wa watu wanaojua mambo mbali mbali kuhusu biashara na Uchumi..Sawa ila ujatoa solutions zaidi ya kubeza tu.
Au lengo lako ni kubeza tu halafu hauna majawabu
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Zimbabwe here we come!This is sad. I hope the responsible people within the BOT and ministry of finance are doing something to revert the situation because at the end of the day this is going to affect us all from machingas, govt and private sector employees, famers, CCM, opposition's, to the lowest citizens who have no idea what FOREX is..ALL of us will suffer the negative consequences of the shilling deprecieation trend
Sawa ila ujatoa solutions zaidi ya kubeza tu.
Au lengo lako ni kubeza tu halafu hauna majawabu
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Basi tusubiri akingatuka aje kusema alipatia wapi na alikosea wapi.Nani ampe solutions huyo anayedhani anajua kila kitu duniani? Hujawahi kumsikia akisema yeye hashauriki?
Unakumbuka maamuzi aliowahi kuyafanya ambayo yametu cost kama nchi nzima??? Sio kama mkoa tu, ila nchi nzima???Ndio factor ya kushuka thamani ya shilingi kwasababu RC wa Dar es salaam sio msomi?
Au umeamua kumalizia hasira labda na chuki binafsi dhidi ya RC wa DSM mkuu?
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