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The economy grew by 5.0% in 2024 as against the 2.3% contraction in 2023, the Central Bank stated in a media release last week and according to the National Accounts Estimates for 2024, all three major economic activities positively contributed to this growth.
The economy notched a 5.4 percent growth in the fourth quarter, the Bank stated.
According estimates the fourth quarter marked the highest rate of growth since the current recovery took off from the third quarter in 2023.
The economy was estimated at USD 98.98 billion by the end of 2024.
The growth in the economy last year, the highest since 2014, was 5 percent. The per capita income too rose to US$ 4,516 during the period.
