Published on : 26/09/24 10:12 AM
The Ministry of Finance’s business survey for the first quarter of 2024 shows that overall business sales declined by 2.6% compared to the previous quarter. This decline was driven by sales in the primary and tertiary sectors, dropping by 3.6% and 4.8% respectively. Conversely, turnover in the secondary sector rose by 1.9%. Overall, there has also been a drop in the wage bill (-1.1%) and in the number of employees (-3.8%).
Security and climate challenges are the main concerns cited by business leaders. Similarly, the high level of inflation, with its effects felt in several sectors, remains a concern for the Government. GDP growth is forecasted at 4.1% in 2024, after 3.3% in 2023.
