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The currency is subject to some volatility, and the country is vulnerable to capital outflows should there be adverse internal or external developments.
Political instability remains an issue for the long-term economic growth prospects, while corruption and red tape still hamper the business environment.
Beside deterioration of payment behaviour in the private sector, the number of payment delays in larger projects dependent on government funding is still high.
In 2019 and 2020 growth is expected to exceed 5%, supported by exchange rate liberalization, interest rate normalisation and increasing tourist arrivals.
Slow reform progress and social tensions weigh on the medium-term outlook, while economic expansion remains heavily dependent on the security situation.
GDP growth is expected to recover only modestly as the oil fund is nearly depleted, and ongoing political uncertainty weighs on the economic performance.