Economic growth is likely to slow to 8.7% in the first half of 2006 from a projected 9.2% for all of 2005, according to a report from the central bank's research bureau. The economy has repeatedly defied expectations of slower growth, moving along at annual rates in excess of 9% for the past eight quarters, despite government efforts at cooling certain sectors. The report gave no reason for the predicted slowdown, but newspapers carrying it pointed to rising oil prices and falling inflation.
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