The Metropolitan Chamber of Commerce and Industry (MCCI) fears continuing political confrontations and weakening of the institutions of economic and political governance may hold back economic growth momentum in future.
"The economy is still on the growth path though concern has been expressed as to how long the economic growth momentum can withstand the continuing political confrontations and weakening of the institutions of economic and political governance," the MCCI observed in its latest review of economic situation.
It said country's economic performance in the fourth quarter (April-June of FY06) indicates a marginally slower growth in Gross Domestic Product (GDP) compared to the encouraging GDP growth and control on inflation in the third quarter (January-March of FY06) of the current fiscal year.
The major growth area was industry, particularly manufacturing and construction, which recorded notable expansion in the quarter under review, the MCCI said and added that the performance of the agriculture sector was relatively weaker compared to that of the previous year.
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