: The following represents a general Table of Contents outline for the Country Economic Forecast. The actual report may cover any or all of the topics listed below. - Highlights and Key Issues - four/five paragraphs of analysis covering the main economic and political issues contained in the subsequent Economic Overview - Forecast Table showing % changes for the country - with 2 years of historical data and 4 years of forecast data for the following: - Domestic demand - Private consumption - Fixed investment - Stockbuilding (% of GDP) - Government consumption - Exports of goods and services - Imports of goods and services - Unemployment - Consumer prices - Current account balance (US$ and % of GDP) - Government budget (% of GDP) - Short-term interest rates (%) - Long-term interest rates (%) - Exchange rate (vs. US dollar) - Exchange rate (vs. euro) - Economic Overview - two pages of events-driven analysis highlighting the most recent economic activity and, where relevant, political developments of the country, detailing significant changes to Oxford Economics' forecasts - Charts and Tables - covering a full range of economic developments relevant to the time period covered. These could include such topics as: - Contributions to GDP growth - Monthly industrial output - Business and consumer confidence - Unemployment rate - Retail sales - Prices and earnings - Consumption and investment - Government balance and debt - GDP and industrial production - Monetary policy and bond yields - Background Information on the country - One or two pages of text covering the main historical political and economic factors that determine the country's current position - Key Facts on the country - Map of the country - Key political facts - Long-term economic and social development - changes since 1980 - Structure of GDP by output - latest year - Long-term sovereign credit ratings and outlook - Corruption perceptions index- latest year - Structural economic indicators - changes since 1990 - Destination of goods' exports -prior years - latest year - Composition of goods & services exports - latest year
The economy grew 0.5% in 2014. This was a surprise but even the official data suggest more worrying trends below the surface; with the impetus to growth only coming from rising government spending and plunging imports. We now forecast no growth in the economy this year. Current activity trends still point to struggling exports and sluggish industrial production, while wage growth and retail sales trends suggest depressed domestic demand conditions. Notwithstanding the stronger performance in Q4 than we had expected, in our opinion the economic outlook remains poor. The country still faces the severe problems of uncompetitiveness brought about by high inflation, excessive government intervention, unsustainable macro policies and an unfavorable external situation. And while October's elections hold out some hope of change, there is no guarantee that the economy's prospects will be noticeably better in 2016.