haison
16-09-2008, 04:18 PM
Macroeconomic turbulence intensified in the first several months of 2008 due to a combination of external and internal factors. Inflation accelerated, the trade deficit widened, and the currency came under
downward pressure. In response, the Government adopted measures to stabilize the situation. Economic growth slowed in the first half of 2008, and the overall economic situation started to improve at midyear.
Growth is now expected to be lower, inflation higher, and the current account deficit wider in both 2008 and 2009 than forecast in April this year. Risks to the projections are tilted to the downside. Still, mediumto
long-term economic prospects remain good.
downward pressure. In response, the Government adopted measures to stabilize the situation. Economic growth slowed in the first half of 2008, and the overall economic situation started to improve at midyear.
Growth is now expected to be lower, inflation higher, and the current account deficit wider in both 2008 and 2009 than forecast in April this year. Risks to the projections are tilted to the downside. Still, mediumto
long-term economic prospects remain good.