No fact distortion on economic growth, Central Bureau of Statistics (CBS) urges

The Central Bureau of Statistics (CBS) has objected to the false publicity regarding the economic growth rate of fiscal year 2019/20. The CBS has expressed its reservation to the distortion of facts.

The CBS has said that there is no amendment to the prior projection of an economic growth rate of 2.27 percent in the base price made for the fiscal year 2019/20.

The Bureau has also termed the recent media reports carried out by some media outlets as the false rumor.

The preliminary annual National Accounts Statistics of 2019/20 was published on April 28 with a projection that the effect of internal and external initiatives taken to reduce the impacts of the coronavirus pandemic might affect the country’s economy, said the CBS.

The Gross Domestic Product (GDP) in the base price was expected to grow by 0.8 percent in the last fiscal year as compared to the previous year.

Similarly, preliminary estimates show that the weather impact integrated quarterly GDP basic price will see a contraction of 2.72 percent in the third quarter compared to the second quarter of fiscal year 2019/20.

A press release issued by the Bureau on Sunday reads that the Bureau has not published any annual National Accounts Statistics amending except it.