Key developments and challenges

The recently adopted banking law is an important step in strengthening regulation, but further reforms to create an efficient, adequately capitalised and well-regulated banking sector are needed to help the economy move towards sustainable growth.

The size and scope of investments envisaged in the mining sector will necessitate additional investment in the country’s infrastructure. This, in turn, calls for the effective design and implementation of concessions and public-private partnerships (PPPs) in various infrastructure sectors, building on the recently adopted legislative and policy frameworks.

The macroeconomic framework for managing expected revenues from increased commodity exports needs to be developed further, based on the recently passed Fiscal Responsibility Law. In particular it is necessary to ensure that the benefits of economic growth are shared broadly and that inflationary pressures are avoided.