7.3% GDP growth in 2010

NEDA released today the 2010 national income accounts (NIA). Growth in gross domestic product (GDP) was high, 7.3 percent. Gross national product (GNP), which is GDP plus net factor income from abroad and errors and omission, had 7.2 percent growth. See the NEDA press release here

The country’s GDP growth the past few years were erratic. 7.2 percent in 2007, 3.8 percent in 2008, and only 1.1 percent in 2009. The years 2008-09 saw a bad global financial turmoil, so that GDP growth were low for many countries, exports, investments and stockmarket levels shrank.

It is important that public and foreign confidence in the economy will remain, if not become stronger, so that more investments, more businesses will be started or continued. In the process, more jobs will be created and sustained.

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