rotation back to domestic demand-led growth, the current account deficit is widening again, while inflation remains above …

production and sustained high energy imports, which have become more apparent. Launching all three arrows will create benefits …

1970s, enabling it to escape the middle-income trap. Policies should aim to tackle the weakness of domestic demand and … growth hinders stabilization in household debt and weighs on domestic demand, while services sector productivity is very low. …

results for import demand point to a strong correlation between imports and exports. The export variable is highly significant … contemporaneous correlation between credit and demand, while the empirical link between exports and demand seems slightly weaker. The … and explains a large fraction of the total variation in imports. An increase in exports of 1 percent is associated with a …

floods, with real GDP growing by 6.5 percent. Private consumption rose 6.7 percent, reflecting pent-up demand and government … investment grew by 14.4 percent. With growth driven by domestic demand, the current account surplus is expected to reach a small …