Are we out of the recession?

Editor, Reading The New Times yesterday, I was happy to find out that the Central Bank believes that the real economy will bounce back with a strong Gross Domestic Product growth rate in the financial year 2010/11, as a result of the strong positive growth of the industry and service sectors in the first three months of 2010.

Editor,

Reading The New Times yesterday, I was happy to find out that the Central Bank believes that the real economy will bounce back with a strong Gross Domestic Product growth rate in the financial year 2010/11, as a result of the strong positive growth of the industry and service sectors in the first three months of 2010.

These two sectors were significantly affected by the external shocks of global financial crisis and the liquidity crunch last year.

The improved international economic environment, good agriculture sector performance and improvement in the banking system liquidity conditions have ensured recovery.

This improvement shouldn’t be taken for granted because there are still many nations that are still feeling the ill-effects of the worldwide recession. I want to thank all those people who’ve made our recovery possible. Good job!

Lillian Mbabazi
Remera

 

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