The Planning Commission has kickstarted the process of developing the new Macroeconomic Policy Framework by holding a public lecture, delivered by Dr. Stevan Lee - a Principal Economists, International consultancy from Oxford Policy Management".

Soon after the lecture that was attended by various public and private stakeholders, Mr. Lawrence Mafuru, Executive Secretary - President's Office - Planning Commission launched the Economic Advisory Team that will work for the next three months to develop the new Macroeconomic Policy Framework.

The National Macroeconomic Policy System, established on April 25, 2024, aims to improve the management of the national economy, by setting parameters, goals and new strategies to be used by different actors including decision makers and sector implementers in a planned and coordinated way.

Mafuru said this work comes about 20 years since the last Macroeconomic Policy Framework for 2005/06 - 2007/08 was created, and is expected to be a new step for sustainable economic growth in Tanzania according to Vision 2050 which is under development.

He said the process of developing Tanzania's Economic Policy Framework is led by the Planning Commission of the Office of the President of Tanzania, which has the authority to oversee the creation of long-term and short-term national development plans and visions, to make regular assessments of important economic parameters, evaluation of the implementation of existing national policies, and strengthening the creation and implementation of new policies.

"To start this process, the Planning Commission has organized a participatory lecture on Tanzania's Economic Policy Framework that will be held at the Central Bank of Tanzania (BoT), bringing together various government and private stakeholders including; policy makers, economists, academics, and development organizations - who are key partners in the management of the national economy, in order to convene, discuss and increase their understanding of macroeconomic trends and their impact on the direction of Tanzania's economy," he said.

He said in addition to that, the Planning Commission will launch an Economic Advisory Team that includes stakeholders from various sectors who will be established after that and will assist the Planning Commission in preparing a new Macro Economic Policy System in time.