Economic Developments and Macroeconomic Policy, 2003-2005

01/12/2003
All Press Releases In Subject:
The Economy and Economic Activity

Economic Developments and Macroeconomic Policy, 2003-2005

Overview:

In 2003, after two years of decline, economic activity stabilized, while domestic demand continued to contract and exports picked up slightly (this analysis relies on preliminary estimates and forecasts based on partial and incomplete data). GDP rose by 1.1 percent in 2003, and per capita GDP fell by 0.7 percent. Business-sector product expanded by 1.3 percent, significantly below its potential growth rate. Business-sector employment increased moderately, alongside a reduction in the number of hours worked per employee.

Link to File