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  • In 2006, the economic outlook remains favorable and we forecast above 3.0 percent real GDP growth on recovering investment activity.
  • The results of our sensitivity analysis of budgetary projections suggest that even under relatively conservative assumptions about the macroeconomic environment, a correction of the excessive deficit is feasible this year.
  • It is of paramount importance that authorities meet tax collection targets in order to attain the 3.0 percent of GDP budget deficit threshold, otherwise additional spending cuts will likely be required.