The national economic growth rate improves to 4.1%

The National Statistics Office announced that the national accounts results for the fourth quarter of 2023 showed an improvement in the national economic growth rate, reaching 4.1% compared to 0.7% recorded during the same period in 2022 .

According to the Office, this growth, driven by domestic demand, was achieved within the framework of controlling inflation and the increase in financing needs of the national economy, stressing that non-agricultural activities have increased by 4.1% in volume, while activities in the agricultural sector increased by 5.8%.

Thus, the added value of the primary sector increased by 4.6% in the fourth quarter of 2023. This is attributed to the increase in agricultural activity by 5.8% and the decrease in fishing activity by 14, 9%.

On the other hand, the added value of the secondary sector, adjusted for seasonal variations, increased by 7.4% in the fourth quarter of 2023, following the improvement in the added value of the extractive industry by 16.4% , manufacturing industries by 8% and construction and public works by 2.4%.

As for the added value of the tertiary sector, it recorded a slowdown in its growth rate, going from 5.1% in the corresponding quarter of the previous year to 2.8%. It was marked by a drop in accommodation and catering activities of 6.9%, research and development activities and business services of 3.7%, financial and insurance services of 3.6%. %, and services provided by public administration and social security of 2.5%.

In terms of current prices, gross domestic product increased by 6.7% in the fourth quarter of 2023, causing the general price level to slow down to 2.6%.