Economic growth backed by statistics from 2022 is good news but not necessarily relevant now.
This is the suggestion coming from transparency advocate Rishi Maharaj after Finance minister Colm Imbert chided the media for not reporting on the recent Central Statistical Office’s report which shows economic growth and decrease in unemployment in 2022.
Minister Imbert took to Twitter recently and highlighted that in 2022, exports were double the value of goods imported, the unemployment rate decreased to 4.7% and in the 2nd quarter of 2022 the economy grew by 1.2%.
He claimed the media however “has no interest in any of this good news”.
Mr Maharaj in response said that 2022 data is not necessary applicable almost 1 year later.
Citing the rise in oil prices at the weekend as an example, Mr Maharaj said it was unreasonable to attempt to transpose 2022 data into 2023.
Oil prices surged after several of the world’s largest exporters announced surprise cuts in production
Mr Maharaj said this could impact shipping, raw material prices and the eventual cost of consumer products.
He suggested that as a result, that data highlighted by Minister Imbert, while good news, is not necessarily relevant.
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