Gross domestic product (GDP) grew by 1.9 per cent in 2001 compared with 2.4 per cent in 2000, the National Economic & Social Council (CNES) reported on 12 June. The 2001 rate is significantly lower than the 3 per cent growth reported by the government for the same period, but the council gave no reason for the discrepancy in the figures (MEED 16:11:01).
CNES attributed the annual decline to a 3.8 per cent contraction in the country's hydrocarbons output to 146 million tonnes of oil equivalent in 2001, with crude oil and condensate output declining by 3.4 per cent and the production of gas falling by 2.1 per cent.
Inflation soared to 4.2 per cent compared with 0.3 per cent in 2000, due mainly to increased public spending.
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