Economic Growth Forecast Revised Upward
Recent data from the Ministry of Finance indicates a stronger-than-expected recovery in the manufacturing and services sectors. The official growth forecast for the current fiscal year has been adjusted from 2.1% to 2.8%.
Key Points:
- Manufacturing output rose by 4.2% last quarter.
- Unemployment fell to 5.1%, a two-year low.
- Central bank interest rates remain unchanged.
Analysts point to increased consumer confidence and robust export figures as primary drivers. “The numbers are encouraging and suggest a resilient economy,” stated a representative from the ministry during a briefing. Further details are expected in the comprehensive report scheduled for release next month.
Infrastructure projects approved earlier this year are also beginning to contribute to economic activity, with several major constructions entering their most labor-intensive phases.
