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Weather Economic forecast
FROM
ISSUE #43 (18 MAY 2001 - 24 MAY 2001)
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OF CONTENTS
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Preliminary Central Bureau of Statistics figures expect the economy to grow by 5.8 percent this fiscal year (ending mid-July), slightly slower than the 6.3 percent achieved last year. The effect of the slowdown in overall growth may be balanced by the low inflation this year, which has been around two percent on average. Agriculture, fisheries and forestry is expected to grow by four percent, down from 4.3 percent a year ago and the non-agricultural sector by 7.3 percent up from the seven percent achieved in fiscal year 1999/00. Hydropower is expected to grow the fastest, by 19 percent, and transport and communication, by seven percent each. However, the contribution of these sectors to the overall Gross Domestic Product is very small.
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