I. Introduction

The economic program for 1997 sets the following objectives:

1. Real GDP growth rate of 4%.

2. Macroeconomic stability will be characterized by:

- A reduction of inflation to 15%;

- A continuing commitment to strong public finances;

- A healthy performance of the external sector. The current account deficit, which is expected to reach 1.2% of GDP, will be exceeded by direct foreign investment flows.

3. Improving living standards of the population will be fostered through increased employment, complemented with the social security reform and poverty alleviation programs.

4. Increasing efficiency and productivity levels through a deepening of market-oriented deregulation and structural reform policies.