The Budget Execution Report for the Second Quarter of the Financial Year, 2020-2021

Abstract

The average growth of real Gross Domestic Product (GDP) in the first three quarters of 2020 averaged at 4.7 percent from 7.3 percent recorded in the similar period in 2019. The slowdown in growth was on account of excessive rainfall which led to destruction of transportation infrastructure, delay in implementation of major projects and impact of COVID – 19 in some of economic activities including trade, hotel and restaurants. In the second quarter of 2020/21, headline inflation decreased to an average to an average of 3.1 percent from 3.7 percent recorded in 2019/20.