The stimulus and recovery plan the government announced last week marks a step change in efforts to revitalise the economy. It responds to the realities we face in the short term, while also laying the foundation for sustainable inclusive growth in the medium to long term. It provides for the government, in partnership with the private sector, to focus on a set of priority areas and pursue these more effectively. The plan is also in line with our fiscal framework. It underlines our commitment to growth and development as a stable and predictable emerging market. Over the past six months business and consumer confidence rose to levels that have not been experienced over the past decade. At the same time there has been a reckoning with the effects of prolonged low growth and institutional erosion. In each of the first two quarters of 2018 the economy contracted. The global trade system is in peril, with emerging markets such as ours caught up in a damaging trade spat between the world...

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