Economic growth stagnates in oct. - dec. 1999

Economic growth stagnated in the last three months of 1999 as the Gross Domestic Product recorded a -0.1% growth in comparison with the same period of 1998, said the statistics department.

The negative performance is attributed to a poor agricultural season which regressed by 11.2%. Not including agriculture, the GDP grew by 2%.

The source said the mining sector suffered a 1.9% fall while energy and construction and public works progressed respectively by 5.6% and 4.8%. Processing industry growth was moderate and stood at 2.1%.

The weak growth, coupled with a poor harvest, reflected on trade where growth rate did not exceed 0.2%.