Growth this year is estimated at 3.2 percent, the highest since 2004. This compares with our earlier forecast of 2.7 percent. The 2013 growth rate is broad based with positive contributions from all sectors, except for mining and quarrying.
The revised growth projection for 2013 reflects a growing optimism in the economy and is consistent with the strong growth in various partial indicators, for example, net value added tax collections, inward remittances, domestic cement sales, and borrowing by the private sector for consumption and investment purposes.