An underperforming economy

The Prime Minister’s Economic Advisory Council (PMEAC) in a recent report, Review of the Economy 2012-13, cited inefficient use of investment capital as a major reason holding back economic growth in the country. In particular, the report brings to attention a steep rise in the Incremental Capital Output Ratio (ICOR) which effectively means that investment in the economy is not being translated into growth in final GDP output.

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