Posted on 05 May 2009
Economic experts predict
The National Centre for Information and Socio-Economic Forecast under the Ministry of Planning and Investment estimates the country’s GDP growth rate in the second quarter will be between 3.5-3.8 per cent, a 0.4-0.7 per cent increase compared to the first quarter.
The annual growth rate this year is forecast to be between 4.5-5 per cent.
Exports in the first quarter failed to meet the yearly target, but volume has been increasing since February driven mostly by rice sales. Contracts have been signed already this year to export 3.7 million tonnes of rice of the total 4.5-5 million tonnes slated to be exported over the whole year.
The Consumer Price Index (CPI) in April rose 0.35 per cent against the previous month, signalling an end to deflation and a revival of consumption demand.
While optimistic about the second quarter’s prospects, the centre still calls for stronger measures to cope with the adverse impacts of the global economic recession.
