By Flavior Kanungo

THE Gross Domestic Product (GDP) estimates for the first quarter of 2022 shows that the economy grew by 2.4 percent from a 1.8 percent growth in first quarter of 2021.

The 2022 Q1 growth represents a 0.6 percent increase in growth compared to the 2021 Q1 growth.

Interim statistician General Mulenga Musepa has attributed the growth to the performance of six industries, which posted positive contributions to overall growth.

Mr Mulenga said Public Administration posted 1.9 percentage points, education 1.9 percentage points, Information & communication 0.7 percentage points,
Electricity generation percentage points, Accommodation 0.1.

Meanwhile Mr Mulenga said the annual inflation for June 2022 decreased to 9.7 percent from 10.2 percent recorded in May 2022.

“The slowdown in annual inflation was mainly attributed to price movements in both food and non-food items this means that on average, prices of goods and services increased by 9.7 percent between May 2022 and June 2022,” Mr Mulenga said.


Please enter your comment!
Please enter your name here