"Growth is likely to be weak in the near term but further out a continued easing in domestic credit conditions, supported by the Bank's asset purchase programme and the Funding for Lending Scheme, together with the stronger global backdrop, underpin a slow but steady recovery in output, " the governor said.
Dante de Oliveira, the state's governor, hopes success with cotton output has increased fivefold and jobs doubled to 25, 000 since 1996 will now attract a textile industry.