Introduction
I. Recent trends
-Overview
-Demand and output
-Labour market developments
-Renewed wage and price inflation
-International trade and finance
II. Medium-term adjustment: strategies and problems
-Historical background
-Fiscal consolidation and debt financing
-Successive adjustment programmes
-Progress in structural reform
III. Economic policies and short-term outlook
-Budgetary developments
-Monetary and exchange-rate policies
-Prospects for 1991 and 1992
-Strong exposure to oil-price shocks
IV. Tax reform: reducing disincentives and inequities
-Historical background and guidelines for reform
The implementation of tax reform
-Some special issues
-General assessment of tax reform
V. Conclusions
Notes and references
Annexes
-I. Technical note
-II. Chronology of economic events
-III. The privatisation process
Statistical and Structural Annex