Growth returns to Scottish economy
22nd April 2010
New figures from the Scottish government show the country's economy has emerged from the recession and is starting to grow again.
Scottish gross domestic product (GDP) increased by 0.2 per cent during the last quarter of 2009, while the country's positions on employment rates and economic inactivity are better than the UK average.
First minister Alex Salmond highlighted that the figures show the recession was shorter in Scotland than it was in the rest of the UK.
'Previous GDP figures have indicated growth returning to parts of the Scottish economy. Today we have welcome confirmation that growth is spreading across sectors and Scotland's economy overall is now out of recession,' he commented.
However, Mr Salmond warned the country that recovery is still 'fragile' and claimed 'considerable challenges' will have to be addressed before strong growth can resume.
This week, the first minister told the Scottish Trades Union Congress' conference in Dundee that the new Scottish Investment Bank intends to issue GBP 50 million in loans to help exporting firms to grow and support economic recovery.