“The more that the growth path, which indicates rather the ministry predicts growth acceleration rather than its extinction. But at the same time budgetary projections collide with deflation deeper and longer than it was founded. From the standpoint of budgetary revenue that surprise does not constitute a fundamental to facilitate the conduct of fiscal policy in 2015. (…) Despite the budgetary neutrality of these messages, these are great data from the point of view of the economy and households, “- said the Minister.
Asked if, therefore, it can be assumed that the current year will close with an increase closer to 4 percent. than the budgeted 3.4 percent. He said that this is not the base forecast of the Ministry of Finance. “For now, the estimates do not change,” – reserved. He added that a similar discussion was conducted last year, when the beginning of the year was much better than expected, but then there has been some slowdown, and the end result was solid, but only a little better than expected. “I always safer to stick to the more conservative side,” – he concluded.
The Central Statistical Office announced on Friday in the so-called. rapid estimate that seasonally unadjusted GDP (constant average prices of the previous year) increased in the first quarter. in real terms by 3.5 percent. compared with the same period last year, to 3.3 percent. in the previous quarter. Economists surveyed by PAP expected economic growth of 3.3 percent.
The Office also informed that in the first quarter of 2015. Seasonally adjusted GDP (at constant prices, reference year 2010) increased in real terms by 1.0 percent. compared to the previous quarter and was higher than the previous year by 3.4 percent. percent. According to data seasonally aligned for the fourth quarter of last year, GDP grew during this period by 0.8 percent. quarter-on-quarter (revised from 0.7 percent. in accordance with the previous estimate) and 3.5 percent. on an annualized basis.
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