"The downward revision resulted from the slightly lower than forecasted real gross domestic product growth rate
in the final third quarter of 2015 in Cyprus," the Economic Research Centre of the University of Cyprus said in an emailed statement on Tuesday.
The IMF projects Myanmar's real gross domestic product growth rate
will be 5.5 per cent in 2011-2012 and 6 per cent in 2012-2013.2 We believe such economic growth, supported by credit growth and improved business confidence, could be driven further by commodity exports and greater investment.
Summary: CAIRO: EFG Hermes updated Tuesday its 2011 forecast of the MENA region's real gross domestic product growth rate
, revising it downwards due to the ongoing political and security turmoil in many Arab states.
In another reminder of the economic situation, domestic news reports surfaced that the Japanese government plans to revise downward its projected real gross domestic product growth rate
for fiscal 2009 to a contraction of around 3 percent to reflect the global economic downturn.
Although Africa has enjoyed high growth rates in recent years (the overall real gross domestic product growth rate
was 5.7 percent in 2006) it is clear that much of that growth comes from the export of commodities such as crude oil, metals and minerals and that growth falls short of the Millennium Development Goal.
In addition, emerging markets continue to boast relatively higher real gross domestic product growth rates
versus their counterparts with developed economies.