The National Bureau of Statistics has revealed that the country’s economy experienced a slowdown in its Gross Domestic Product (GDP) growth, dropping to 2.74 percent in 2023 from 3.10 percent in the previous year.
This figure falls below projections by both the World Bank and the International Monetary Fund, which estimated a growth of 2.9 percent.
Despite a slight uptick in the fourth quarter of 2023, with GDP expanding by 3.46 percent, the overall trend indicates a decline compared to the previous year.
The services sector drove growth in the fourth quarter, contributing 56.55 percent to the GDP.
Meanwhile, the agriculture sector saw modest growth, and the industry sector showed improvement compared to the previous year.
Join our twitter community :