Macro update April 2023 - Prioritize economic growth goal
“Inflation on decreasing trend, prioritize growth in consistent with macroeconomic stability goal”. This is the direction of Prime Minister in April meeting, showing policy pivot with a series of decisions to prompt support the economy. In the context of industrial production showed sign of stagnation, public investment and tourism are considering as new growth drivers and promoted.
We expect recent measures of the Government in March & April will soon bring good impacts on the economy in remaining quarters of the year and keep our forecast on GDP growth at 6% and inflation under control of 4.5% in 2023.
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