Dated 27th of August, 2010, this press release speaks of the situation of the federal economy and ways that this could be put to use on a general format. With the surging of imports, economy is growing at a comparatively lower rate and therefore during the April to June period, the maximum growth has been at a rate of 1.6%.
With the uncertainty of the economy, it is quite natural that the rate of economy remains in a vulnerable position. From the previously estimated growth range from 2.4% to 3.7%, it can be stated that current rates have seen an immense downfall. Therefore, it is imperative that the economy would run on a comparatively lower budget with manufactured goods as well as imports getting a certain amount of setback.
It can be stated that there is also expected a certain amount of depression in regards to lowering of investment expenditure and rate of growth on construction of home is taken to be at a comparatively lower rate. Hence, it can be stated that the country is in a situation of ‘growth recession’ at the earliest of stages.
With this minimal growth rate being at a minimal of 2%, it can be stated that rates of employment is taken at 9.5%. Hence, as per current situation, the country is truly in a zone of minimal growth rate, and economic growth is also on the lower zone in terms of economic reports presented by the economy.