Economic growth rate

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Economic growth rate

Economic Growth Rate

The change in a nation's GDP from one period of time (usually a year) to the next. The economic growth rate shows by how much GDP has grown or shrunk in raw dollar amounts. It is considered one of the most important measures of how well or poorly an economy is performing. It is calculated thusly:

Economic growth rate = (GDPyear 2 - GDPyear 1) / GDPyear 1 * 100

The economic growth rate does not adjust for inflation; therefore, the real economic growth rate is sometimes considered more accurate. One may use GNP instead of GDP in calculating the economic growth rate, but this is rare.
References in periodicals archive ?
A confirmation of this is the World Bank report saying that the Republic of Macedonia and Montenegro have the highest economic growth rates in the region, said Finance Minister Zoran Stavreski.
The economic growth rates of industrialized states which possess around 51 percent of global oil consumption edged down from 1.
India's lowest economic growth rates in a decade have coincided with soaring prices over the past year.
Akeel attributed this to the high economic growth rates achieved by the Kingdom, which are by far faster than the global rates, stressing that Saudi Arabia is growing as a result of the ecosystem stability, increased economic activity rates, and high domestic and foreign investment.
The coexistence of higher economic growth rates and a lower C/A deficit shows that the consumption and investment needs of the Romanian economy have started to be covered more by internal production.
However, restoration of economic growth rates which were prevalent before the crisis will take some time.
Citing the latest market forecast, Chang pointed out that the economic growth rates of Europe and the U.
According to the IMF, without a strong policy response, Russia's medium-term economic growth rates could be below four percent.
Radwan warned that the continuing labour strikes are increasing pressure on the state budget and economic growth rates.
Despite fluctuations in local and regional financial markets during the past fiscal year, the Kuwaiti economy achieved economic growth rates not less than what was achieved in 2006," Mustapha Al Shamali said, adding that "rising oil prices and higher returns from foreign investments" were driving growth.
The bank made growth in various activities, helped by the political stability in Jordan and the high economic growth rates.
Current economic growth rates in the region are inadequate to generate sufficient jobs for growing populations, let alone address chronic poverty.

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