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16-10-2016, 07:22 PM
(This post was last modified: 16-10-2016, 07:35 PM by CY09.
Edit Reason: edits
)
Lets get ahead of official data and make our own guess estimates
In my opinion, the govt is contributing to the economy significantly through its high government expenditure. FY 2015 was the first time we had a primary deficit in budget due to a higher development expenditure - 50% increase YoY.
What I am inferring is that the private sector is contracting and the govt is picking the slack. The main reason is due to oil crisis which is affecting us badly. O&G companies dwindling activity is having a ripple effect through our economy. My own "MTI" estimates is that we will register a 1- 1.5% growth this year. It is likely next year will be negative growth because our government is prudent in its finances and will not continue massive expenditure.
In my opinion, the govt is contributing to the economy significantly through its high government expenditure. FY 2015 was the first time we had a primary deficit in budget due to a higher development expenditure - 50% increase YoY.
What I am inferring is that the private sector is contracting and the govt is picking the slack. The main reason is due to oil crisis which is affecting us badly. O&G companies dwindling activity is having a ripple effect through our economy. My own "MTI" estimates is that we will register a 1- 1.5% growth this year. It is likely next year will be negative growth because our government is prudent in its finances and will not continue massive expenditure.