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Monthly Economic Briefing |
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Summary |
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Recent data show that the economy
decelerated notably, driven by rapidly weakening
domestic demand. In the coming quarters, economic growth will decelerate
further, as subdued oil prices and concomitant declining oil revenues add
to a weaker domestic sector. In addition, low oil prices will increase
pressures on the government to devalue the currency, which would exacerbate
already soaring inflation and thus further constrain private consumption.
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