The economy will grow next year based on domestic demand, which will contribute 4.7pct compared to a percentage of 4.6pct estimated for 2015, whilst net exports are expected to have a negative contribution of 0.6pct from minus 1pct this year, shows the 2016 draft budget announced by the Public Finance Ministry.
According to the document, investments next year are estimated to contribute to the GDP usage by 1.4pct, down from 1.6pct in 2015, whilst final consumption will contribute 3.2pct in 2016 from 3pct in 2015.
At the same time, expenditures related to end-consumption will contribute 2.9pct, according to the draft, up from 2.8pct this year, and government consumption by 0.3pct, also in slight increase from a 0.2pct advance this year. In public administration, consumption is estimated to contribute 2pct, the same as this year.
As to the GDP formation, the Finance Ministry estimates a contribution of 1.2pct from industries next year, on the rise from their 0.7pct contribution this year. Agriculture will grow from a negative contribution of 0.1pct in 2015 to a positive one of 0.1pct next year.
The construction sector is included in the GDP growth with a 0.4pct contribution, the same as this year, while services will contribute 1.8pct from 2.2pct in 2015.
Taxes will contribute to the GDP formation next year by 0.6 percent, slightly higher from 0.5 percent this year.
According to the draft budget, the economy will advance next year by 4.1pct from a 3.6pct growth in 2015. More…