Central Bank predicts rise in GDP but further decline in employment figures

THE Central Bank has said the economy should grow marginally this year before picking up pace next year, but warned a decline in the unemployment rate is unlikely in 2010.

As part of its latest quarterly bulletin, the Central Bank said it sees GDP growing by 0.8% this year and by as much as 2.8% in 2011. The economy in GDP terms declined by nearly 8% last year.

“The indications are that the economy evolved broadly as expected through the first half of the year. The performance of the exporting sector strengthened, largely due to a good performance by the multinational sector,” the bank’s bulletin said.