Continued Weakness Expected In FY2009/10

We are forecasting real GDP growth to slow to 5.5% in FY2009/10 (July-June) as the effects of improved political stability are offset by a poor outlook for agricultural and industrial sector growth. We expect real GDP growth at an average of 5.9% from FY2011/12 onwards as an expected slowdown in remittances should see private consumption growth settle at a lower rate.

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