The nation’s economy has begun a slow recovery from recession although the Gross Domestic Product (GDP) contracted again by 0.52 per cent in real terms in the first quarter of 2017.
The National Bureau of Statistics (NBS) disclosed yesterday that this contraction, which represented the fifth in the quarterly series, starting from the first quarter of 2016, raised hopes that recovery is on the way.
The nation’s inflation, which has moderated for the third consecutive time, has appeared discriminatory, as some items in the food index, which are patronized by the masses, have remained on the high side.
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