Moderate economic growth last year was based on private consumption and exports…

Moderate economic growth last year was based on private consumption and exports, while fixed investment growth dwindled. Inflation eased from high levels as the year progressed, enabling a reduction in interest rates. The economy is expected to pick up in 2007 and 2008, supported by greater development spending and some improvement in the investment climate. There is a window of opportunity to accelerate reforms, which would pave the way for a significant lift in investment, in turn making headway on job creation and poverty reduction.

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