Domestic theme for 2015: Continuation of subpar growth
Government measures fail to deliver
Private investment fails to pick up
• Delays in investment budget
disbursement
• Sentiment deteriorates
• Capital utilization rate remains low
Moderate GDP growth
Expect 3.0% (vs 0.8% in 2014)
No clear economic driver, weak global
recovery
Subdue inflation pressure
Expect headline inflation at 0.1%, with
lower oil price as a key driver
Easing monetary policy
Expect a third rate cut this year to
1.25% to shore up confidence and
support growth
What to expect in 2015 Export fails to recover
• Shrinking demand due to weak
recovery in major trading partners
• Falling oil and agriculturalcommodity prices