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02/10/2013
Central Bank Urge Govt To Not Risk 'Hard Won' Gains
The government have been urged to not cut back on fiscal consolidation in the upcoming Budget.
The Central Bank made the call in its Quarterly Bulletin, saying that several years of hard won gains should not be put at risk for relatively small easing of the fiscal adjustment.
The bank also used the Bulletin to downgrad the years growth forecast, now predicting 0.5% growth in the GDP for 2013.
The new prediction is down just 0.1% from the figure the bank gave in July, but is below the Budget growth estimate of 1.4%.
The trend for slow recovery continues, according to the Bank.
(MH/CD)
The Central Bank made the call in its Quarterly Bulletin, saying that several years of hard won gains should not be put at risk for relatively small easing of the fiscal adjustment.
The bank also used the Bulletin to downgrad the years growth forecast, now predicting 0.5% growth in the GDP for 2013.
The new prediction is down just 0.1% from the figure the bank gave in July, but is below the Budget growth estimate of 1.4%.
The trend for slow recovery continues, according to the Bank.
(MH/CD)
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