Diamond rebound powers 2013 economic growth

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Economy growth, as measured by Real Gross Domestic Product (GDP), picked up pace to jump by 5.9 percent in 2013 compared to a revised 4.3 percent in 2012. This was largely on the back of increased diamond production.

Last year’s increase in the rate of growth reversed a three year streak in which the economy grew at a slowing rate.

In 2010, the economy grew by 8.6 percent but slowed down to 6.2 percent the next year before further declining to 4.3 percent in 2012.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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