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Economic Reports
The Annual Economic Report reviews the country’s economic performance and near-term prospects. Among others, the report targets policy makers and is meant to stimulate discussion and change.

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Developments in the economy during the first half of the year were mixed. On the positive side, mining activity was buoyant, aided by high metal prices, resulting in an increase in export earnings. In addition, fiscal performance was on track with revenues overperforming. However, there were strong inflationary pressures during the review period, which mainly emanated from high food prices.
World economic growth in 2007 continued to be strong, albeit slower than in 2006. Real Gross Domestic Product grew by 5.2 percent, down by 0.2 percentage points from 2006. China, India and Russia were the main drivers of global activity, jointly accounting for one-half of output. Other emerging and developing countries also experienced robust expansion.
The global economy continued to grow in 2006, registering a growth of 1.5 percent compared to 4.3 in 2005. This growth was led by the United States, the euro area and Japan. Additionally, continued growth in emerging markets and developing countries added impetus to world output.
Growth in the global economy continued although at a slower rate. Output increased by 4.3 percent in 2005 compared with 1.5 percent in 2004. The United States of America (USA) and China, where growth remained robust, led the global expansion.
Growth in the global economy continued in 2004 and was gross-based with Gross Domestic Product (GDP) growth projected to average 5 percent compared to 3.9 percent in 2003, the highest for nearly three decades.
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