GDP growth remained positive in 2007-08, but proceeds from most
taxes contracted or stagnated. Factor incomes also weakened. In contrast, following efforts
to fight informality, social security contributions and corporate income taxes collections
increased. A possible conjecture for this revenue moderation could be government efforts
to support the economy in the face of the early signs of a growth slowdown. For example,
value-added taxes were reduced drastically for textile and clothing products.