Assessment and Recommendations
I. Recent Trends and Prospects
-Overview
-Growing Exports Contribute to Acceleration in GDP
-Labour Market Conditions Continue to Improve
-The Disinflation Process Pauses Temporarily
-The External Balance Stabilises
-The Short-Term Outlook
II. Macroeconomic Management
-Monetary Policy
-Fiscal Policy
-Assessment
III. Progress in Structural Reform
-Product Markets
-Financial Markets
-Labour Market Policy
-Public Sector
IV. Coping with Ageing
-Introduction
-The Scale of the Demographic Problem
-Public Support for the Elderly
-The Economic Implications of Ageing under Existing Institutional Arrangements
-Policy Priorities
-Summing Up
Annex I. Operations of the NBH
Annex II. General Government Accounts: Cash-Flow versus Accrual Concepts
Annex III. Poptential Output Growth until 2005
Annex IV. Medium-Term Projections
Annex V. Calendar of Main Economic Events
Statistical Annex and Structural Indicators