The private sector has contributed more to the nation’s total investments from year to year, while the government’s contribution has been on the decline, the Directorate-General of Budget, Accounting and Statistics (DGBAS) said.
In the first half of this year, private investment accounted for 84.2 percent of the nation’s capital formation, up from 82.4 percent for the whole of last year, data compiled by the DGBAS shows.
However, government investment made up 11.5 percent of capital formation in the first six months of the year, down from 12.4 percent last year, the statistics show.
The private sector has become more important in capital formation, with yearly contributions on the rise, the DGBAS said, citing data showing that the 76.4 percent posted in 2011 has grown each year.
The ratio was 78.2 percent in 2012, 79.5 percent in 2013, 80.7 percent in 2014, 81.9 percent in 2015 and 82.4 percent last year, the DGBAS said.
The government’s percentage fell from 17 percent in 2011 to 15.6 percent in 2012, 14.6 percent in 2013, 13.2 percent in 2014, 12.6 percent in 2015 and 12.4 percent last year, the DGBAS added.
Even including investments made by state-run enterprises, the combined public investment has not surpassed 20 percent of the nation’s total new capital since 2014, the DGBAS said.
In the first half of this year, the percentage stood at 15.8 percent, data shows.
Capital formation made up 20.5 percent of GDP in the first half of this year, down 2.9 percentage points from a year earlier, while last year, the ratio was 20.9 percent, the DGBAS said.
The construction industry accounted for 37.4 percent of capital formation during the six-month period, making the industry the nation’s largest investor, it said.
The machinery equipment business came in second with 31.4 percent, ahead of the intellectual property business with 24.7 percent and transportation equipment with 6.6 percent, it added.
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