World Bank Group2014-12-182014-12-182014-10https://hdl.handle.net/10986/20794Growth rebounded significantly due to strong industrial recovery aided by growth in investment and exports. Capital flows are back, signaling growing investor confidence, as inflation has moderated from double digits, exchange rate has stabilized, and financial sector stress has plateaued. Monetary policy continuity has been maintained and there has been some progress on fiscal consolidation. With the economy still below potential and reform momentum picking up, growth is expected to strengthen over the medium-term. Inflation is expected to decline with monetary policy switching to inflation targeting while the current account deficit is expected to widen somewhat as import demand and capital inflows rise. Fiscal consolidation is expected to continue through stronger revenue mobilization. Downside domestic risks can be offset through accelerated structural reforms.en-USCC BY 3.0 IGOACCESS TO BANKACCOUNTINGACCOUNTING STANDARDSAIRAIRPORTSASSET QUALITYASSET RECONSTRUCTIONAUCTIONBALANCE OF PAYMENTSBALANCE SHEETBALANCE SHEETSBANK ACCOUNTSBANK CREDITBANK PROFITABILITYBANKING SECTORBANKING SECTOR ASSETSBANKING SYSTEMBASIS POINTSBENCHMARK STOCKBONDBOND ISSUANCESBOND MARKETSBORROWING COSTSBOTTLENECKSBOURSESCAPITAL FLOWSCAPITAL INFLOWSCAPITAL OUTLAYCASH MANAGEMENTCASH RESERVECASH RESERVE RATIOCENTRAL BANKCHECKSCOLLECTIVE INVESTMENTCOMMERCIAL BANKSCOMMODITY PRICESCOMPLIANCE COSTSCONSUMER DURABLESCONSUMER GOODSCONSUMER PRICE INDEXCORPORATE BONDSCORPORATE DEBTCOUPONSCREDIT GROWTHCROSSINGCURRENCYCURRENT ACCOUNT DEFICITDEBT INSTRUMENTSDEBT MARKETDEBT OBLIGATIONDEBT RESTRUCTURINGDEFAULTERDEFAULTERSDEFAULTSDEPOSITSDEVELOPING COUNTRIESDIESELDOMESTIC MARKETDRIVERSDURABLESECONOMIC DEVELOPMENTSEMERGING ECONOMIESEMERGING MARKETEMERGING MARKETSEQUIPMENTEQUITY MARKETSEXCHANGE BOARDEXCHANGE RATEEXPENDITUREEXPENDITURESEXPORT COMPETITIVENESSEXPORT GROWTHEXPORTERSEXTERNAL DEBTFEDERAL RESERVEFINANCIAL ASSETSFINANCIAL CRISISFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL STABILITYFINANCIAL SYSTEMFISCAL DEFICITFISCAL DISCIPLINEFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN INVESTMENTFOREIGN PORTFOLIO INVESTORSFREIGHTFUELFUEL PRICEFUEL PRICESFUEL SUBSIDIESGLOBAL MARKETGLOBAL TRADEGOVERNMENT BONDGOVERNMENT BOND YIELDSGOVERNMENT BONDSGOVERNMENT DEBTGOVERNMENT DEFICITGOVERNMENT INTERVENTIONGOVERNMENT POLICYGOVERNMENT SECURITIESHIGH-SPEED TRAINSHOLDINGIMPORT COSTSINCOME GROWTHINFLATIONINFLATION RATEINFLATIONARY PRESSURESINFORMATION TECHNOLOGYINFRASTRUCTURE BONDSINFRASTRUCTURE FINANCEINFRASTRUCTURE INVESTMENTINFRASTRUCTURE PROJECTSINLAND WATERWAYSINSTITUTIONAL INVESTORSINSURANCEINSURANCE COMPANIESINTEREST EXPENSEINTEREST RATEINTEREST RATE DIFFERENTIALINTEREST RATESINTERNATIONAL BANKINVENTORIESINVENTORYINVESTMENT PROJECTSINVESTMENT REQUIREMENTSINVESTOR BASEINVESTOR CONFIDENCEISSUANCESLEGAL FRAMEWORKLEVEL PLAYING FIELDLIABILITYLIQUIDITYLIQUIDITY MANAGEMENTLIQUIDITY RATIOLOANMACROECONOMIC ENVIRONMENTMARKET CAPITALIZATIONMARKET CONDITIONSMARKET DISTORTIONSMARKET INTEGRATIONMARKET PRICESMARKET REGULATORMARKET STRUCTUREMATURITYMICRO INSURANCEMONETARY POLICYMORAL HAZARDMUTUAL FUNDSNEGATIVE SHOCKOIL PRICESOPEN MARKETOVERDRAFT FACILITYOVERNIGHT REPOPAYMENT SYSTEMSPENSIONPENSION FUNDSPENSIONSPETROLEUM PRODUCTSPOLLUTIONPORTFOLIOPORTFOLIO FLOWSPORTFOLIO INVESTMENTSPRICE OF DIESELPRIORITY SECTOR LENDINGPRIVATE BANKSPRIVATE PLACEMENTSPRIVATE SECTOR BANKSPUBLIC DEBTPUBLIC INVESTMENTPUBLIC SECTOR BANKSPUBLIC SPENDINGRAILWAYRAILWAYSREAL ESTATE INVESTMENTREAL INTERESTREAL INTEREST RATEREAL INTEREST RATESREGULATORY AUTHORITIESREGULATORY FRAMEWORKREGULATORY FRAMEWORKSREMITTANCESREPOREPO RATERESERVERESERVE BANKRESERVE REQUIREMENTSRESERVESRESETTLEMENTRETAIL INVESTORSRETURNRETURN ON ASSETSROADROADSROLLING STOCKSAFETYSANITATIONSECURITIESSECURITIES LAWSECURITY INTERESTSHAREHOLDERSHORT-TERM DEPOSITSSMALL BUSINESSESSOVEREIGN DEBTSPOT MARKETSTATUTORY LIQUIDITYSTOCK EXCHANGESTOCK MARKETSTOCK MARKETSSTOCKSSTRATEGIC INVESTORSSWAPSWAPSTAXTAX COLLECTIONTAX REVENUETELECOMMUNICATIONSTERM DEPOSITSTOLLSTRADE BALANCETRADINGTRANSACTIONTRANSITTRANSPARENCYTRANSPORTTRANSPORT EQUIPMENTTRANSPORTATIONTRUCKSVEHICLESWAREHOUSEWEALTH10.1596/20794