Challenges but with better prospects

• REAL GDP GROWTH TO RANGE FROM 0.7 PERCENT TO 1.9 PERCENT
• INVESTORS ADOPT A WAIT-AND-SEE ATTITUDE
• THERE IS A NEED TO HIKE GASOLINE IMPORT DUTY AND RESTORE VAT ON DIESEL

eal economic growth is forecast to range between 0.7 percent and 1.9 percent in 2019. Growth, which was subdued during the first quarter, is likely to pick up in the second half of the year. The fiscal deficit is expected to narrow significantly this year while a soft landing in terms ofpublic finance is still conceivable in the longer run. The government could be able to cut primary spending, excluding interest payments, by six percent. It could also boost revenues through better tax collection and by raising some taxes. Fiscal consolidation will be strengthened by tight monetary measures. These measures are intended to maintain price stability,