4. The stabilization program has remained broadly on track, though at times with substantial
difficulty. The first program review was completed in March 2009, but the completion of the second
review was delayed by months and finally concluded in August 2009.
5. The rapid decline in international commodity and oil prices during 2008/09 has reduced the risks,
facilitated improvement in the external position and the achievement of program targets. Some of them
were met, some missed in 2008/09. While the economy started stabilizing towards the end of the fiscal
year, overall economic performance has remained mixed. Table 1 summarizes the medium-term
macroeconomic framework the program is supporting.
No comments:
Post a Comment