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Economy projected to expand by 4.3% in 2015

April 10, 2015 3:58 am

The Reserve Bank has released a revised forecast of 4.3 percent domestic economic growth for this year.

RBF Governor Barry Whiteside says this is an upward revision of four per cent announced in the 2015 National budget.

If the new figure is achieved it will be the sixth consecutive year of positive growth and third consecutive growth above four per cent.

Whiteside says the revised forecast incorporates the higher Government expenditure budgeted for 2015 particularly the larger-than-expected allocation for capital expenditure.

He adds recent developments and latest data on the domestic economy have also been taken into account in the revisions.

Several sectors like public administration and defence, finance and insurance, accommodation and food services are now all expected to do better than earlier anticipated.