Finance Minister Zainab Ahmed says we are borrowing sensibly

finance minister zainab ahmed says we are borrowing sensibly
finance minister zainab ahmed says we are borrowing sensibly

Zainab Ahmed, the Minister of Finance, said that the current administration is borrowing sensibly to resolve the country’s infrastructure deficit.

Speaking at a press conference on the recent report by the National Bureau of Statistics (NBS) on the growth of the economy, Ahmed said that if there are no investments that will pay off in the future, there will be regrets.

According to the Minister, the economy would have grown by more than 5 percent in the second quarter of 2021 if it weren’t for security challenges that slowed growth in the agricultural sector.

According to her

“The 2021 second quarter growth reflects better economic performance compared to the same quarter last year. The same quarter last year, we had a negative growth of -6.10 percent. It is also better than the first quarter of 2021. 

“The service sector recorded a strong performance, growing by 9.27 percent this reporting quarter, representing the fastest growth in this sector since 2010.

“The second quarter growth of 2021 would have been much stronger than the 5.01 percent but for agriculture that recorded a slightly lower growth.

“A number of bottlenecks within the system including insecurity which has negatively affected the sector negatively. Also, the industrial sector slowed down to -1.3 percent.”

The non-oil sector contributed significantly to the growth in the second quarter, Ahmed added.

According to her

“The non-oil sector recorded a growth of 7 percent which represents the fastest growth since the third quarter of 2014."

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