Department of Finance Predicts 2.3% Growth in 2023

Department of Finance Predicts 2.3% Growth in 2023

The Prime Minister’s Office has put out a bulletin announcing that the Department of Finance has forecasts a Real GDP growth rate of3.2% for 2023 and is projecting a 5.2% Real GDP growth for 2024.

The statement attributes the growth to ‘a government that has fertilized the local economy with sound economic policies to empower startups and new businesses and help existing companies grow and expand their operations’.

The PM’s Office also references the The Business Performance Survey conducted by the Chamber of Commerce, Industry and Agriculture in June 2023 confirming that ‘65% of respondents forecast increased business profitability over the next 12 months”.

The release from the PMO adds that according to the Chamber of Commerce 74% of Chamber respondents ‘attempted to recruit additional workers between January and March 2023. More than half of the respondents say 2023 is better than 2022!’

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