The office projects that out of the 18 industrial classifications of the economy, only 11 have positive growth rates, while seven sectors have negative growth rates.
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The third quarter of the current fiscal year is expected to witness a 3.51 percent economic growth rate. The quarterly accounting data released by the National Statistics Office has projected an economic growth of 3.5 percent in the same period of this year compared to the third quarter of the previous fiscal year.
The office has stated that the economic growth rate of 3.5 percent is expected to be due to the increase in electricity generation and distribution, deposit collection and loan flow, non-life insurance premium collection, and trade services during that period.
‘Out of the total 18 industrial classifications presented in the third quarter, the growth rate of 16 sectors has been positive.’ The growth rate of the public administration and defense and industrial production sectors has been negative during that period,’ the quarterly report said.
It is stated that the growth rate of this quarter has been normal compared to the third quarter of the previous fiscal year due to the decline in the import of construction materials, rice production, and domestic production of some goods.
However, the office has stated that the economic growth in the third quarter of this fiscal year will be only 0.58 percent compared to the second quarter of the fiscal year 2082/83. The office projects that the growth rate of only 11 out of the 18 industrial classifications of the economy is positive, while the growth rate of seven sectors is negative.
