The growth rate of the economy is expected to come down. One constant is the services sector that continues to outperform with a higher contribution than in previous years, though growth is slower than before. Tax revenue’s continued growth, meanwhile, is led by direct taxes.
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Export woes linger
There has been a continued moderation in merchandise exports amid a challenging global trade environment.
Services exports have also slowed after growing in double digits for two years in a row. Limited external debt has been a positive.
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First Published: Jul 22 2024 | 11:34 PM IS