A Citibank economist predicts the country’s gross domestic product (GDP) growth for 2013 will be 4.7%, and should increase to 4.8% in 2014.
Haren Shah, Citi Asia Pacific director and senior investment strategist of Citibank, said on Thursday the economy would probably slow down in the second quarter of the year on the back of a decline in domestic consumption and private investment.
However, the economy would grow in the second half of the year, boosted by the government’s investment in infrastructure development and water resources and flood management projects, he said. Exports would also improve in the second quarter of the year, in line with the recovery in the US economy.
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