Investor Presentaiton
The government is forging ahead with an ambitious reform agenda
backed by political majority in Congress
Despite the Covid-19 outbreak, the Government moved forward and
submitted to Parliament in April an omnibus bill ("Urgent Consideration Law")
that included a spate of structural and fiscal reforms. The bill was approved
on July 8th:
•
new fiscal framework to ensure sustainable finances over the medium term
and establish credibility in meeting fiscal targets: fiscal rule to account for
business cycle (structural balance) and government spending capped by
potential GDP growth.
new governance policies for public enterprises;
commission of experts to make proposals for a comprehensive pension
reform;
microeconomic reforms to boost potential GDP and improve business
climate and competitiveness (changes in the regulatory framework for
energy markets and promotion of competition in non-tradable sectors), so
that the private sector can lead the way to recovery.
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