Sunday 17 November
Nov 8, 2019 @ 19:48

A 6.2% GDP growth rate? That’s nothing to celebrate says former BPI Trade chief

 

Call him a party pooper, but a 6.2 percent growth remains mediocre for a country with a lot going on.

While economic managers seized on the fact that the economy grew faster than the 6% expansion in the third quarter last year, economist Mike Oyson was quick to retort that this was still a low number considering what the economy can muster.

“What catch-up? A catch up growth is in the 7%+ level. Despite lower (interest rates), TRAIN and BBB, the economy was only able to deliver 6.2%. That’s not a good number,” Oyson said in a series of tweets.

“Long way to go from 6.2% to 7%. We were made to believe the economic policy pivot was going to be transformational rather than cosmetic,” he added.

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