The Budget Execution Report for the Financial Year, 2020-21,(July, 2020 to June,2021)

Abstract

In the first quarter (January – March) of 2021, the economy registered a real GDP growth of 4.9 percent compared to 5.9 percent in a corresponding quarter of 2020. The slowdown in growth was due to spill-over effects of the measures taken by major trading partners to contain the spread of COVID-19. In 2020/21, headline inflation remained within the country’s medium-term benchmark of between 3 and 5 percent, decreasing to an average of 3.3 percent from 3.5 percent recorded in 2019/20.