“The costly business environment has contributed to a significant decline in production, the collapse of many businesses; the rise in non-performing loans; the relocation of businesses to other African countries, and as a whole led to the significant decline in the growth of the private sector and the economy. From a GDP [Gross Domestic Product] growth rate of 6.1% in the 4th quarter of 2021 to 2.0% in the 3rd quarter of 2023”, it mentioned.
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