Macroeconomic Transition and Growth Momentum
This morning, we begin the third 100-day review of government performance for the past year alongside a comprehensive assessment of the past nine months.
We have moved away from an economy once characterized by a weak institutional and political framework that was not conducive to growth, limited private sector participation, and an ineffective regulatory environment. The private sector itself faced low competitiveness, while numerous state-owned enterprises operated inefficiently, burdened by high levels of debt. Productivity remained low, and the economy was highly vulnerable to the impacts of climate change.
In response, we have adopted a new, pragmatic political economy approach. This shift has enabled the achievement of strong, double-digit growth momentum. Currently, the economy is growing at 9.2%, and we expect this to rise to 10.2% in the coming year. Sectorally, we are advancing targeted growth objectives: 7.9% in agriculture, 13.2% in industry, and 9.3% in services. These efforts reflect our commitment to building a more resilient, competitive, and inclusive economy.
