- The economy has continued to perform well, growing by 7 percent in the first half of 2013.
- The economic outlook is promising
- Growth projected to continue at a similar pace for the full year.
- Overall inflation fell to 6.1 percent in September
- Core inflation (excluding food and fuel prices) at 5.8 percent.
- Noted positive benign developments in domestic food prices
- Persistent prudent monetary policy ,
- Inflation is projected to decline to the authorities’ medium term target of 5 percent by mid-2014.
- The current account deficit declined somewhat,
- but remained large, at 13½ percent of GDP in July 2012 – June 2013.
- Also noted fiscal pressures emerged during the last fiscal year (2012/13, July to June)
Please read the full statement -http://www.imf.org/external/np/sec/pr/2013/pr13428.htm
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