Economy shows signs of growth after severe recession

The economy is expected to have grown by about 0.3 percent in the last quarter of 2024, indicating a possible exit from recession. This follows a 1 percent contraction in the previous quarter and a 1.1 percent decline earlier in the year. Economists noted signs of recovery in retail and accommodation sectors, driven by lower interest rates and increased consumer spending. The busy tourism season is also anticipated to benefit the transport sector. Analysts caution that GDP data may be subject to significant revisions, as seen in previous reports. Some forecasts suggest minimal growth, highlighting ongoing economic challenges.