World Bank2014-01-032014-01-032013-04https://hdl.handle.net/10986/16497Weak exports and investments resulting from the impact of the euro-area crisis, domestic supply constraints, and intensified strikes and unrests underpin the growth slowdown. Strong remittances and robust service sector performance are expected to help maintain growth at a still healthy level. Increasingly fragile political stability does not bode well for revival of investment needed to accelerate growth. A broad-based declining inflation trend appears to be gaining ground. Average (twelve-monthly-moving) inflation has declined steadily over the past ten months, from a peak of nearly 11 percent in February 2012 to 8 percent in March 2013, reflecting declines in both food and non-food inflation. Favorable international commodity prices, a stable exchange rate and monetary tightening contributed to lowering inflation.en-USCC BY 3.0 IGOACCOUNTINGARREARSASSET PRICEASSET QUALITYAUCTIONAUCTIONSBALANCE OF PAYMENTSBALANCE SHEETSBANK ACCOUNTSBANK FINANCINGBANK LIQUIDITYBANKING SECTORBASIS POINTSBINDING CONSTRAINTSBONDBONDED WAREHOUSESBOURSESBROAD MONEYBUDGET DEFICITBUSINESS ENVIRONMENTCAPITAL ADEQUACYCAPITAL MARKETCAPITAL MARKETSCASH RESERVECELLULAR PHONESCENTRAL BANKCENTRAL BANK BILLSCENTRAL BANK INDEPENDENCECHILD LABORCLEAN WATERCOMMERCIAL BANKSCOMMODITIESCOMMODITYCOMMODITY PRICECOMMODITY PRICESCOMPLIANCE COSTCONFLICT OF INTERESTCONSUMER DURABLESCORPORATE GOVERNANCECREDIBILITYCREDIT FACILITYCREDIT GROWTHCREDIT RATINGCREDIT RATING AGENCIESCURRENT ACCOUNT SURPLUSDEBT LEVELSDEBT MANAGEMENTDEBT SERVICEDEBTORDEFICIT FINANCINGDEFICITSDEMOGRAPHICDEMOGRAPHIC CHANGESDEPOSITDEPOSITSDEVELOPING COUNTRIESDISBURSEMENTDISBURSEMENTSDISTRIBUTION OF INCOMEDIVIDENDDOMESTIC BANKDOMESTIC BORROWINGDOMESTIC CREDITDOMESTIC CREDIT GROWTHDOMESTIC DEBTDOMESTIC MARKETDOMESTIC MARKETSDOMESTIC PRICESECONOMIC CRISESECONOMIC DEVELOPMENTECONOMIC DEVELOPMENTSECONOMIC PERFORMANCEECONOMIC STRUCTUREEMERGING MARKETEMERGING MARKET ECONOMIESEXCESS SUPPLYEXCHANGE RATEEXCHANGE RATESEXPENDITUREEXPORT GROWTHEXPORT SHAREEXPORTEREXPORTERSEXTERNAL DEBTEXTERNAL FINANCEEXTERNAL FINANCINGFERTILITY RATEFINANCIAL DEVELOPMENTFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MARKETFINANCIAL SECTORFINANCIAL SYSTEMFISCAL CONSOLIDATIONFISCAL DEFICITFISCAL POLICIESFISCAL POLICYFOOD PRICEFOREIGN ASSETSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE MARKETFOREIGN INVESTMENTFOREIGN INVESTMENTSGLOBAL ECONOMYGOOD GOVERNANCEGOVERNMENT SECURITIESGROWTH RATEGROWTH RATESHOUSEHOLD INCOMEHUMAN DEVELOPMENTIMMUNIZATIONINCOME INEQUALITYINCOME LEVELSINCOME TAXINCOME TAX REFORMSINCOMESINFLATIONINFLATION RATEINFLATION TARGETINFLATION TARGETINGINFORMATION SYSTEMINFRASTRUCTURE INVESTMENTSINTEREST PAYMENTSINTEREST RATESINTERNAL CONTROLSINTERNATIONAL INVESTORSINTERNATIONAL MARKETSINVENTORYINVESTINGINVESTMENT CLIMATEINVESTMENT RATEINVESTMENT REGIMEINVESTMENT SPENDINGJOB CREATIONJOINT STOCK COMPANIESLABOR MARKETLABOR MARKETSLETTERS OF CREDITSLEVEL OF INFLATIONLIENLIFE EXPECTANCYLIQUIDITYLIQUIDITY CRISISLIQUIDITY CRUNCHLOANLOAN APPROVALSLOCAL GOVERNMENTLOW-INCOME COUNTRIESLOW-INCOME ECONOMIESMACROECONOMIC STABILITYMARKET CAPITALIZATIONMARKET DIVERSIFICATIONMARKET ENVIRONMENTMARKET PRICEMARKET RISKSMICRO CREDITMIDDLE-INCOME COUNTRYMIGRANT LABORMINIMUM CAPITAL REQUIREMENTMONETARY FUNDMONETARY POLICYMONEY GROWTHMONEY MARKETMONEY MARKET RATESMONEY MARKETSMUTUAL FUNDSNON-PERFORMING LOANSNPLOIL PRICESOUTPUTOUTSOURCINGOUTSTANDING LOANSPENSIONPOLITICAL STABILITYPOLITICAL UNCERTAINTIESPOLITICAL UNRESTPORTFOLIOPRIMARY DEALERPRIVATE CREDITPRIVATE INVESTMENTPRIVATE INVESTMENTSPRIVATE INVESTORSPRIVATE SECTOR CREDITPROTECTION OF INVESTORSPUBLIC DEBTPUBLIC FINANCESPUSH FACTORSREAL ESTATEREFORM PROGRAMREMITTANCEREMITTANCESREPOREPO RATEREPO RATESRESERVERESERVE REQUIREMENTRESERVESRETURNRETURNSSAFETY NETSAFETY NETSSAVINGSSECONDARY MARKETSECONDARY MARKET TRADINGSOCIAL DEVELOPMENTSOLVENCYSTOCK EXCHANGESTOCK MARKETSTOCK MARKET MOVEMENTSSUSTAINABILITY ANALYSISSUSTAINABLE GROWTHTAXTAX COLLECTIONTAX COLLECTIONSTAX EXEMPTIONSTAX REGIMETELECOMMUNICATIONSTOTAL DEBTTRACK RECORDTRADE FINANCETRADING PLATFORMTRANCHETRANSPARENCYTREASURYTREASURY YIELDSTRUST FUNDSTURNOVERVOLATILITYWEALTH EFFECTSWITHDRAWALWorld Bank10.1596/16497