Lowassa to launch book on the economic crisis

Former Prime Minister Edward Lowasa will tomorrow launch an academic publication titled “Economic Crisis of 2010 and beyond” which provides analysis and perspectives in the Tanzanian context.

The author of the book, Dr Honest Prosper Ngowi, a researcher and consultant in economics and business at the Mzumbe University - Dar es Salaam Business School – said it targets policymakers, academicians, private sector, media and the public in general to enable them to understand the global economic crisis which also affects Tanzania.

He said the book also analyses the 2010 economic crisis of the eurozone which touches Tanzania in the form of reduction in exports, declining investment inflows, cancelled or postponed investment plans, falling remittances and aid flows.

“I am expecting after the targeted group reads the book, we will see changes in policy makers, private sector and other related sectors that need changes based on the new reality on the ground,” he said.

“In order to weather the crisis, developing countries should, whilst maintaining fiscal soundness and macroeconomic stability as long-term targets, spur aggregate domestic demand, promote export diversification in both markets and products, improve financial regulation, endorse long-term growth policies, and strengthen social safety nets. Multilateral institutions should ensure that adequate funds and shock facilities are put in place,” he explained.

Dr Ngowi holds a Candidatus Oeconomie (Doctoral Coursework) from Norwegian School of Economics and Business (NHH) in Bergen Norway, Msc Economics and Business from Agder University College in Kristiansand Norway and Advanced Diploma in Economic Planning from the former Institute of Development Management (IDM) Mzumbe in Tanzania.

He has written over 50 major academic works and 100 newspaper and magazine articles. He has worked widely on various areas of economics and business including Foreign Direct Investments (FDIs), Macro-and Microeconomics, International trade, Managerial economics, Entrepreneurship and Public Private Partnerships (PPPs).

He has also worked on Executive Agencies in Service Delivery, Project Management, Unlocking Economic Growth Potentials, shared economic growth, University-Industry Linkages, funding civil societies, mainstreaming HIV/Aids in curricula and workplaces, East African Common Market, Economic Impacts of HIV/Aids, Public Expenditure Review Systems (PETS), Poverty, and the 2008 Global Financial and Economic Crisis among others. 

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