The economy's growth rate reached 2.1% in the fourth quarter of 2023, compared to a growth rate of 2.3% recorded in the corresponding quarter of 2022.

The growth rate in the third quarter of 2023 had risen to 2.6%, in the second quarter to 2.2%, and in the first quarter to 3%.

According to a preliminary estimate by the Statistical Service, after adjusting the GDP for seasonal fluctuations and working days, the growth rate is calculated at 2.3%, down from 3.0% in the fourth quarter of 2022.

On a quarterly basis, the economy's growth rate was 0.8% in the fourth quarter of 2023, up from 0.7% in the fourth quarter of 2022.

As reported by the Statistical Service, the positive GDP growth rate is primarily attributed to sectors such as 'Hotels and Restaurants,' 'Transportation and Storage,' 'Wholesale and Retail Trade, Repair of Motor Vehicles,' 'Information and Communications,' 'Construction,' 'Arts, Entertainment, and Recreation,' and 'Other Service Activities.'