The national budget for FY17 has been proposed in a stable macroeconomic context. While GDP growth and inflation figures in last fiscal year were within Government’s target, budgeted expenditure and revenue were largely off-target as we had predicted. Although the problems behind such subpar performance have been rightly identified by the Government, reform measures need time to be implemented. With the fragile system still in its place, we believe achieving a 29% bigger budget and 37% higher revenue will be challenging.

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Categories: Economy

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