NewsWhore
08-23-2010, 06:20 PM
In its second and third reviews of the Stand-by Arrangement of November 2009, the International Monetary Fund says that the government ended the first phase of the economic program in June with "very positive results."
The IMF highlights that GDP is estimated to have grown by 7.5% in the first half of 2010 and that annual inflation is below the Central Bank target of 6-7%. Furthermore, core inflation (excluding food and fuels) reached only 3.5% for the first half of 2010. The IMF now projects that real GDP should grow 5.5-6% for 2010 and end-year inflation is expected to remain within the official target.
The IMF says that there have been "delays in implementing the authorities' strategy to improve tax collections, and the electricity reform has not led to financial savings for the government".
The IMF predicts "a gradual process of fiscal consolidation and a tightening of policies to maintain domestic demand growth on a sustainable path" in the second half of the year.
www.imf.org/external/np/sec/pr/2010/pr10315.htm (http://www.imf.org/external/np/sec/pr/2010/pr10315.htm)
More... (http://www.dr1.com/index.html#2)
The IMF highlights that GDP is estimated to have grown by 7.5% in the first half of 2010 and that annual inflation is below the Central Bank target of 6-7%. Furthermore, core inflation (excluding food and fuels) reached only 3.5% for the first half of 2010. The IMF now projects that real GDP should grow 5.5-6% for 2010 and end-year inflation is expected to remain within the official target.
The IMF says that there have been "delays in implementing the authorities' strategy to improve tax collections, and the electricity reform has not led to financial savings for the government".
The IMF predicts "a gradual process of fiscal consolidation and a tightening of policies to maintain domestic demand growth on a sustainable path" in the second half of the year.
www.imf.org/external/np/sec/pr/2010/pr10315.htm (http://www.imf.org/external/np/sec/pr/2010/pr10315.htm)
More... (http://www.dr1.com/index.html#2)