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									Albania
                                                                                   1989                1990             1991             1992             1993             1994        1995 1996
                                                                                                                                                                      Estimate    Projection

Output and expenditure                                                                                              (Percentage change in real terms)
GDP                                                                                 9.8               -10.0           -28.0             -7.2               9.6              8.3        13.3           9.1
   Private consumption                                                              na                  na            -19.5            23.4               -0.1             -3.1         9.3          21.4
   Public consumption                                                               na                  na            -44.8           -11.3               -8.6             19.9         9.3           2.6
   Gross fixed capital formation                                                    na                  na               na              na                na               na          na            na
   Exports of goods and services                                                    na                  na               na            55.6               70.8            -10.0        21.9          15.4
   Imports of goods and services                                                    na                  na               na          213.3                 9.5             -6.4         3.3          34.8
Industrial gross output                                                             5.0               -14.2           -42.0           -51.2              -10.0             -2.0         6.0          13.6
Agricultural gross output                                                           na                 -5.4           -17.4            18.5               10.4              8.3        13.2           3.0
Employment1                                                                                                                (Percentage change)
Labour force (end-year)                                                             na                  na               6.2             -4.2              0.4              1.3         1.8            1.8
Employment (end-year)                                                               na                  na               0.0            -23.6             -4.5             11.0        -2.0           -2.0

Unemployment (end-year)                                                             na                  9.5              8.3            24.4             18.6              16.0        10.2          12.4
Prices and wages                                                                                                          (Percentage change)
Consumer prices (annual average)                                                    0.0                 0.0            35.5           226.0              85.0              22.6         7.8          12.7
Consumer prices (end-year)                                                          0.0                 0.0           104.1           236.6              30.9              15.8         6.0          17.4
Producer prices (annual average)                                                    na                  na              na               na               na                na          na            na
Producer prices (end-year)                                                          na                  na              na               na               na                na          na            na
Gross average monthly earnings in economy (annual average)                          na                  na              na               na             109.3              26.2        58.9          25.5
Government sector                                                                                                          (In per cent of GDP)
General government balance                                                          na                -6.1             -20.7             -23.1           -15.5            -12.6       -10.1          -9.8
General government expenditure                                                      na                59.7              52.2              46.7            40.4             36.4        33.4          24.6
General government debt                                                             na                 na                na                 na             na               na         57.5          55.2
                  2
Monetary sector                                                                                                           (Percentage change)
Broad money (M2, end-year)                                                          na                  na              na               na              66.4              43.9        52.0          38.1
Domestic credit (end-year)                                                          na                  na            100.1            68.0             152.6              17.8       -10.0          48.1

Broad money (M2, end-year)                                                          na                  na               na             47.4             31.9              31.2        38.0          34.8
Interest and exchange rates                                                                                         (In per cent per annum, end-year)
Refinancing rate3                                                                   na                  na               na              40.0            34.0              25.0        20.5          24.0
Treasury bill rate (3-month maturity)                                               na                  na               na               na              na                na         13.8          17.8
Deposit rate (1 year)                                                               na                  na               5.0             32.0            23.0              16.5        10.8          18.5
Lending rate (1 year)4                                                              na                  na               8.0             39.0            30.0              20.0        20.8          28.8

Exchange rate (end-year)                                                            8.0               10.0             25.0             98.7            100.9              95.0        94.5         103.7
Exchange rate (annual average)                                                      8.0                8.0             14.6             81.3            102.1              94.7        92.8         104.5
External sector

Current account                                                                     0.0                0.0              0.0              0.0            -357.0         -278.7       -176.8          -245.0
Trade balance                                                                       0.0                0.0              0.0           -454.0            -508.9         -459.6       -475.0          -678.3
   Merchandise exports                                                              0.0                0.0              0.0             70.0             111.6          141.4        204.8           243.6
   Merchandise imports                                                              0.0                0.0              0.0            524.0             620.5          601.0        679.8           922.0
Foreign direct investment, net                                                      na                 0.0              0.0             20.0              45.0           65.0         89.0            97.0
Gross reserves, excluding gold (end-year)                                           0.0              199.4              8.5             72.0             147.0          204.0        240.0           275.0
External debt stock                                                                 0.0                0.0            742.0            811.0             936.0        1,074.0        787.0           845.0
                                                                                                                                                                                                             (In
Gross reserves, excluding gold (end-year)                                           na                  na               na               na               2.2              3.5         3.7            3.1
                                                                                                                                                                                                             (In p
Debt service                                                                        na                  na               na               na               na              18.7         3.2            7.5
Memorandum items                                                                                                      (Denominations as indicated)
Population (end-year, million)                                                      3.2                3.2              3.1              3.1              3.1               3.0        3.0             3.1
GDP (in billions of leks)                                                          18.7               16.8             16.4            50.7             125.3             184.4      229.8           346.4
GDP per capita (in US dollars)                                                    729.9              657.4            357.7           200.5             396.8             642.1      815.4         1,082.3
Share of industry in GDP (in per cent)                                             41.7               39.8             32.1            16.9               9.1               9.1        9.1             8.6
Share of agriculture in GDP (in per cent)                                          35.2               37.0             42.5            54.2              27.3              24.7       23.1            24.0
Current account/GDP (in per cent)                                                   na                 na               na               na             -29.1             -14.3       -7.1            -7.4
External debt - reserves (in US$ million)                                           0.0                0.0            733.5           739.0             789.0             870.0      547.0           570.0
External debt/GDP (in per cent)                                                     na                 na              66.0           130.1              76.2              55.1       31.8            25.5
External debt/exports of goods and services (in per cent)                           na                 na               na               na             498.1             478.4      259.8           227.8


1                                                                                         3
    Figures do not include emigrant workers abroad.                                           The figures show the repo rate of the central bank.
2                                                                                         4
    Data up to and including 2001 are based on the previous reporting standard.               The figures show the weighted average monthly rate for new credit in leks
    The new reporting standard, in accordance with the 2000 Monetary and                      for maturities between 6 months and 1 year in December each year.
    Financial Statistics Manual, excludes blocked deposits from broad money.
1997            1998              1999             2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



        -10.9               8.6             13.2              6.5               7.9               4.2               5.8               5.7               5.7               5.4               5.9               7.7               3.3
         -9.2               7.0              2.7              5.3               na                7.6              11.1               9.4               6.0               7.2              13.9              11.2               na
        -16.5               4.7             15.9              7.4               na                5.6              -1.9               7.4               2.6               1.0              10.0              12.8               na
          na                na               na               na                na                4.5              18.0               2.7               4.9              14.1               8.8              11.0               na
        -24.5              -3.5             47.0              5.8               na               26.1              19.5              16.6              18.1              18.3              23.7              17.6               na
        -19.8               9.3             11.3              6.5               na               24.5              12.7               6.4              14.0              10.7              24.0              14.9               na
        -25.2              27.5             23.3              1.3               6.1              -5.1              29.0              14.1              14.4              12.1               8.6               3.8               na
        -17.1               6.2              5.4              6.7               2.7               2.1               2.9               6.3               0.9               3.0              -1.9               2.5               na


          2.1               1.5              -1.1             -1.7             -14.2              -0.8              -0.3              -0.1              -0.3              0.0               -0.2              3.1               -6.5
         -0.7              -2.0              -1.8              0.3             -13.8               0.0               0.7               0.5               0.1              0.3                3.3              0.9               -7.7
                                (In per cent of labour force)
        14.9               17.8              18.4             16.8             16.4              15.8              15.0              14.4              14.1              13.8              13.2              12.7              13.7


        33.2               20.6              0.4              0.1               3.1               5.2               2.3               2.9               2.4               2.4               2.9               1.1               3.4
        42.1                8.7             -1.0              4.2               3.5               1.7               3.3               2.2               2.0               2.5               3.1               2.2               3.5
         na                 na               na              -3.8              -3.8               6.4               6.2              10.8               5.1               0.1               4.1               4.4               0.4
         na                 na               na               na               -4.0              11.1               4.4              12.3               1.5               0.2               6.6               4.3               0.6
        -2.1               20.2             11.2             10.2              11.0              11.6              12.0               2.8               5.0               9.2              25.2              11.0               6.0


        -12.7             -12.1            -12.3             -7.6              -6.9              -6.1              -4.9              -5.1              -3.5              -3.3              -3.5              -5.5              -7.4
         29.1              34.8             35.1             32.6              31.9              30.9              29.0              29.6              28.5              29.3              29.5              32.3              33.4
         78.7              76.4             73.1             73.1              67.4              65.5              60.7              57.7              58.2              56.7              53.8              55.2              59.7


        34.5               22.8             20.3             10.4              15.4                6.4              7.6              12.0               8.9              12.1               5.3              10.3               4.2
        43.0               15.3             10.3              8.0               7.6              -85.0             31.2              37.9              73.1              56.5              50.1              34.8              11.1
                                   (In per cent of GDP)
        46.9               48.7             50.8             50.6              52.3              52.1              50.4              52.1              52.3              54.2              52.0              51.0              50.1


        32.0               22.9            17.8              10.8               7.0               8.5               6.5               5.3               5.0               5.5               6.3               6.3               5.3
        32.6               27.5            17.5              10.8               8.0              11.1               7.3               6.2               5.4               6.4               6.3               6.3               6.3
        28.9               16.6             9.5               6.9               6.9               9.3               7.6               6.0               5.6               5.5               6.0               6.9               6.8
        43.0               30.3            21.7              21.2              15.3              16.0              10.5              13.7              12.2              11.2              13.6              11.1              12.0
                                   (Leks per US dollar)
       149.8              141.4           135.2             142.8             135.9             134.0             106.4              92.6              98.1              94.1              82.9              87.9              95.8
       146.7              151.1           138.1             143.9             143.6             140.2             121.3             102.8              98.1              98.1              90.4              83.5              95.0


                                 (In millions of US dollars)
       -276.0             -186.0           -265.0            -169.2           -299.4            -422.1            -398.0            -427.0            -726.0          -1,024.4          -1,147.8          -2,002.0          -1,875.0
       -534.9             -603.6           -662.8            -821.0         -1,027.0          -1,155.1          -1,336.0          -1,583.0          -1,821.0          -2,089.5          -2,899.6          -3,551.9          -3,216.1
        158.6              208.0            275.0             255.4            304.6             330.3             447.0             601.0             656.0             792.9           1,078.7           1,355.6           1,048.0
        693.5              811.7            937.9          1,076.4           1,331.6           1,485.4           1,783.0           2,184.0           2,477.0           2,882.3           3,978.3           4,907.5           4,264.2
         42.0               45.0             51.0             143.0            207.3             135.0             178.0             324.0             258.0             314.7             647.4             888.5             942.0
        306.0              384.0            484.6             608.0            737.0             838.8           1,009.4           1,357.6           1,404.1           1,768.8           2,104.2           2,319.8           2,313.9
        877.0            1,491.0          1,588.0          1,084.0           1,200.0           1,180.0           1,253.5           1,519.4           1,694.0           2,275.4           2,760.9           3,598.2           4,139.6
                       (In months of imports of goods and services)
          4.6                4.9               5.3              4.8             5.0               4.8               4.7               5.0               4.4               4.4                4.3              3.8               4.3
                       (In per cent of exports of goods and services)
        11.6                 9.1               4.1              4.0             4.1               4.5               3.1               3.1               2.8               3.1                2.4              4.2               4.6


         3.1                3.1              3.0              3.1               3.1               3.1               3.1               3.1               3.1               3.2               3.2               3.2               3.2
       346.2              409.2            471.6            523.0             583.4             622.7             694.1             750.8             814.8             882.2             967.7           1,088.1           1,153.0
       764.2              884.6          1,119.9          1,188.5           1,326.2           1,439.7           1,844.7           2,341.7           2,648.7           2,854.5           3,379.5           4,096.8           3,795.8
         8.0                7.8              7.3              7.8               7.3               6.9               8.7              10.0              10.6              11.0              10.3              10.4               na
        20.2               23.7             25.8             25.5              23.6              23.4              23.5              22.3              20.7              19.8              21.0              21.5               na
       -11.7               -6.9             -7.8             -4.7              -7.4              -9.5              -7.0              -5.8              -8.7             -11.4             -10.7             -15.4             -15.4
       571.0            1,107.0          1,103.4            476.0             463.0             341.2             244.0             161.8             289.9             506.6             656.6           1,278.4           1,825.7
        37.2               55.1             46.5             29.8              29.5              26.6              21.9              20.8              20.4              25.3              25.8              27.6              34.1
       387.2              506.1            293.2            154.1             143.1             128.9             107.4              95.0              91.6             101.2              91.3              93.9             119.7
2010



           3.0
           na
           na
           na
           na
           na
           na
           na


           na
           na

           na


           3.5
           3.0
           na
           na
           na


          -5.2
           na
           na


           na
           na

           na


           na
           na
           na
           na

           na
           na



          na
          na
          0.0
          na
        693.6
          na
          na

           na

           na


           na
       1,217.0
           na
           na
           na
          -9.2
           na
           na
           na
Armenia
                                                             1989               1990            1991             1992                1993      1994         1995 1996
                                                                                                                                            Estimate   Projection

Output and expenditure                                                                       (Percentage change in real terms)
GDP                                                          14.2               -7.4           -11.7           -41.8                 -8.8       5.4          6.9          5.9
   Private consumption                                        na                 na              -6.1          -12.8                -26.3       5.2          9.0          3.8
   Public consumption                                         na                 na               7.8          -12.9                  2.2      -3.2          0.2         -2.4
   Gross fixed capital formation                              na                 na               na              na                  na       44.9        -17.3         10.3
   Exports of goods and services                              na                 na               na              na                  na        na          -7.8         -9.7
   Imports of goods and services                              na                 na               na              na                  na        na         -10.3         -5.5
Industrial gross output                                       na                -7.5             -7.7          -48.2                -10.3       5.3          2.5          1.2
Agricultural gross output                                     na                 na             11.4              2.1                -5.0       3.2          3.4          1.7
Employment                                                                                         (Percentage change)
Labour force (end-year)                                       na                  na             na               na                  1.4       -2.2        -0.8          -0.9
Employment (end-year)                                         na                  na             2.5             -5.6                -2.2       -3.6        -0.8          -2.7

Unemployment (annual average)1                                na                  na              na              3.5                 6.3       6.6          6.7           9.3
Prices and wages                                                                                   (Percentage change)
Consumer prices (annual average)                              4.8               10.3           274.0         1,346.0              1,822.0   4,962.0       175.8          18.7
Consumer prices (end-year)                                    na                 na             25.0         1,341.0             10,896.0   1,761.0        32.2           5.8
Producer prices (annual average)                              na                 na              na               na                892.4   4,714.2       275.4          22.4
Producer prices (end-year)                                    na                 na              na               na              2,135.0   2,272.2        38.3           9.6
Gross average monthly earnings in economy (annual average)    na                 na              na            326.9                751.0     -85.9       243.6          45.7
Government sector2                                                                                 (In per cent of GDP)
General government balance                                    na                  na            -1.9             -13.9              -54.7     -16.5         -9.0         -8.5
General government expenditure                                na                  na            28.0              46.7                na       44.1         28.9         26.1
General government debt                                       na                  na             na                 na                na       30.9         29.7         35.8
Monetary sector                                                                                    (Percentage change)
Broad money (M2, end-year)                                    na                  na              na              na                  na         na          na           na
Domestic credit (end-year)                                    na                  na              na              na                  na         na         68.0         27.8

Broad money (M2, end-year)                                    na                  na              na                 na               na         na           na           8.2
Interest and exchange rates                                                                  (In per cent per annum, end-year)
Refinancing rate                                              na                  na              na              30.0             210.0      210.0        52.0          60.0
Money market rate                                             na                  na              na               na                na         na          na           48.6
Deposit rate                                                  na                  na              na               na                na         na         63.2          32.2
Lending rate                                                  na                  na              na               na                na         na        111.9          66.4

Exchange rate (end-year)                                      na                 na              na               2.1                75.0     405.5       402.0         435.1
Exchange rate (annual average)3                               6.2                5.9            33.7            226.2                 9.1     288.7       405.9         414.0
External sector

Current account                                               0.0                0.0             0.0              0.0              -66.8     -103.8      -218.4         -290.7
Trade balance                                                 0.0                0.0             0.0           -102.4              -98.0     -178.3      -403.0         -469.2
   Merchandise exports                                        0.0                0.0             0.0             82.9              156.2      215.4       270.9          290.4
   Merchandise imports                                        0.0                0.0             0.0            185.3              254.2      393.6       673.9          759.6
Foreign direct investment, net                                na                 0.0             0.0              0.0                0.8        8.0        25.3           17.6
Gross reserves, excluding gold (end-year)                     0.0                0.0             0.0              1.3               13.6       32.3        99.6          155.6
External debt stock                                           0.0                0.0             0.0              0.0                0.0      200.4       387.0          536.0
                                                                                                                                                                                 (In
Gross reserves, excluding gold (end-year)                     na                  na              na                 na               0.6       0.9          1.6           2.1
                                                                                                                                                                                 (In p
Debt service                                                  na                  na              na                 na               na        3.4         20.9         20.3
Memorandum items                                                                               (Denominations as indicated)
Population (end-year, million)                                na                 3.5             3.6              3.4                 3.3       3.2         3.1           3.2
GDP (in billions of drams)4                                   na                10.1            16.0            62.5                  4.3     187.1       522.3         661.2
GDP per capita (in US dollars)                                0.0              488.0           133.4            82.1                143.6     205.1       408.9         507.0
Share of industry in GDP (in per cent)                        na                 na              na               na                  na        na          na            na
Share of agriculture in GDP (in per cent)                     na                 na              na               na              9,743.6      43.5        40.7          33.0
Current account/GDP (in per cent)                             na                 na              na               na                -14.3     -16.0       -17.0         -18.2
External debt - reserves (in US$ million)                     0.0                0.0             0.0              0.0                 0.0     168.1       287.4         380.4
External debt/GDP (in per cent)                               na                 na              na               na                  na       30.9        30.1          33.6
External debt/exports of goods and services (in per cent)     na                 na              na               na                  na       87.5       129.2         145.6


1                                                                   3
    Registered unemployed only.                                         Russian Roubles per US dollar before 1993.
2                                                                   4
    Central government account only.                                    Russian Roubles before 1993.
1997            1998              1999             2000              2001             2002             2003             2004             2005             2006             2007              2008              2009



         3.3                7.3              3.3              5.9              9.6             13.2             14.0             10.5             13.9             13.2              13.7                6.9             -14.2
         7.3                5.3              1.4              8.3              7.5             10.3             11.5             16.3              7.6             13.3              16.1                na                na
        -2.3               -2.2              1.3              2.8              4.3              2.2             14.1             11.0             19.0             14.0               5.2               -1.9              -4.9
         2.1               12.0              0.6             16.2              5.3             33.1             27.5             19.0             29.1             33.7              18.2               11.9             -34.8
        28.9                8.9              6.5             16.6             27.0             35.8             29.1             -1.7             15.9             -7.3              -3.5              -13.1             -11.5
        24.4                5.0             -8.1              5.1              6.4             18.9             26.5             -2.9             14.3              3.8              13.0                7.3             -19.5
         0.9               -4.3              5.2              6.4              3.8             14.2             15.1              2.4              7.6             -0.9               2.6                1.7              -7.8
        -5.3               12.3              1.3             -2.5             11.6              4.4              4.3             14.5             11.2              0.4               9.6                1.3              -0.1


         -3.0              -4.9               0.2             -1.7             -2.5            -12.2             -0.6             -2.9             -0.1             -1.2               0.3              1.0               -1.0
         -4.4              -2.5              -2.9             -1.6             -1.0            -12.5              0.1             -2.3              1.5             -0.5               0.8              1.8               -1.6
                                (In per cent of labour force)
        10.8                9.4              11.2             11.7            10.4             10.8             10.1               9.6              8.2              7.5               7.0              6.3               6.8


        14.0                8.7              0.7             -0.8               3.1              1.1             4.7               7.0             0.6              2.9               4.4               9.0               3.4
        21.8               -1.3              2.1              0.4               2.9              2.0             8.6               1.9            -0.2              5.2               6.6               5.2               6.5
        19.0               13.4              2.3             -0.4               1.1              3.6             8.9             -13.3             7.7              0.9               0.6               2.2               7.1
        12.4                8.2              3.8             -1.8               0.2              6.8            19.4              16.9            -4.0              0.6               0.0              -6.4              30.8
        57.7               32.5             12.0             12.6               7.8              7.9            24.0              28.3            23.9             23.5              20.5              18.2              11.2


        -5.8               -4.9             -7.2             -6.4             -3.8             -0.4             -1.1             -1.8             -2.6             -2.8              -2.3              -1.8              -7.7
        25.5               25.6             30.1             25.9             20.9             19.3             18.9             17.1             17.6             20.0              22.4              22.2              28.8
        42.7               42.5             49.3             48.9             46.4             47.0             40.9             32.6             24.4             19.2              18.7              16.1              42.7


        29.2               36.0             13.6             39.7               4.3            34.0              10.4            22.3             27.8             32.9              42.3               2.4              16.4
         6.3               60.8              3.7             12.3              -7.8            -8.4             -10.1            41.2             54.6              8.7              78.4              58.9               3.5
                                   (In per cent of GDP)
          8.7              10.0             11.0             14.7             13.4             15.6             14.4             15.0             16.3             18.3              22.0              19.8              26.6


        54.0               39.0            43.0           25.0                15.0             13.5              7.0              3.8              3.5              4.8               5.8               7.3               5.0
        36.4               27.8            23.6           18.6                19.4             12.3              7.5              4.2              3.2              4.3               4.5               6.8               6.2
        26.1               24.9            27.3           18.1                14.9              9.6              6.9              4.9              5.8              5.8               6.3               6.6               8.7
        54.2               48.5            38.8           31.6                26.7             21.1             20.8             18.6             18.0             16.5              17.5              17.0              18.8
                                   (Drams per US dollar)
       495.0              522.0           523.8          552.2               561.8            584.9            566.0            486.3            450.2            363.5             304.2             306.7             377.9
       490.8              504.9           535.1          539.5               555.1            573.4            578.8            533.5            457.8            416.0             342.1             306.0             363.3


                                 (In millions of US dollars)
       -295.0             -418.7           -307.1            -278.4          -199.6           -147.9           -189.4            -19.6            -51.7           -117.1            -589.6          -1,382.9          -1,369.5
       -559.5             -577.4           -474.0            -463.5          -420.2           -368.8           -434.1           -457.9           -587.9           -895.9          -1,600.3          -2,663.5          -2,081.3
        233.6              228.9            247.3             309.9           353.1            513.8            696.1            738.3          1,004.9          1,025.5           1,196.7           1,112.0             748.8
        793.1              806.3            721.4             773.4           773.3            882.5          1,130.2          1,196.3          1,592.8          1,921.3           2,796.9           3,775.6           2,830.1
         51.9              220.9            122.0             104.2            69.9            110.7            120.5            245.6            232.7            450.1             701.0             925.2             724.8
        228.8              280.7            290.9             302.0           317.2            415.6            502.0            547.8            669.5          1,071.9           1,659.1           1,406.8           2,003.4
        683.0              775.0            870.0             860.0           906.0          1,026.0          1,756.7          1,870.6          1,826.1          2,010.0           2,909.2           3,444.3           5,022.9
                       (In months of imports of goods and services)
          2.9                3.3               3.8              3.8             3.9              4.5              4.3              4.0              3.8              5.1               5.5              3.6               6.5
                       (In per cent of exports of goods and services)
        14.2                19.0             14.3              10.7             9.5            10.1             15.6               8.9              4.4              3.9               2.9              3.0               6.1


         3.1                3.1             3.1               3.3               3.2              3.2              3.2              3.2              3.2              3.2              3.2               3.2               3.2
       804.3              955.4           987.4           1,031.3           1,175.9          1,362.5          1,624.6          1,907.9          2,242.9          2,656.2          3,149.3           3,568.2           3,102.8
       522.2              605.1           589.8             581.9             659.3            740.3            873.9          1,112.8          1,509.3          1,982.1          2,852.9           3,606.1           2,653.7
         na                 na              na               25.2              23.2             22.6             22.5             22.1             21.8             17.2             15.0              13.4              13.9
        30.3               31.0            27.0              23.2              25.6             23.5             21.5             22.6             19.1             18.7             18.2              16.2              16.5
       -18.0              -22.1           -16.6             -14.6              -9.4             -6.2             -6.7             -0.5             -1.1             -1.8             -6.4             -11.9             -16.0
       454.3              494.3           579.1             558.0             588.8            610.4          1,254.8          1,322.8          1,156.6            938.1          1,250.1           2,037.5           3,019.6
        41.7               41.0            47.1              45.0              42.8             43.2             62.6             52.3             37.3             31.5             31.6              29.5              58.8
       206.8              215.7           227.1             192.5             167.9            147.1            194.4            174.7            129.0            133.1            163.7             196.0             375.3
2010



           4.0
           na
           na
           na
           na
           na
           na
           na


            na
            na

            na


           8.5
           8.0
           na
           na
           na


           -5.4
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       -1,072.0
       -2,102.0
          838.0
        2,940.0
          525.0
            na
            na

            na

            na


           na
       3,490.7
           na
           na
           na
         -11.5
           na
           na
           na
Azerbaijan
                                                                                   1989               1990             1991             1992               1993             1994        1995 1996
                                                                                                                                                                      Estimate     Projection

Output and expenditure                                                                                              (Percentage change in real terms)
GDP                                                                                -4.4               -11.7             -0.7          -22.6               -23.1          -19.7         -11.8           0.8
   Private consumption                                                              na                  na               na              na                 na             na            na           11.2
   Public consumption                                                               na                  na               na              na                 na             na            na            1.0
   Gross fixed capital formation                                                    na                  na               na              na                 na             na            na          111.4
   Exports of goods and services                                                    na                  na               na              na                 na             na            na            na
   Imports of goods and services                                                    na                  na               na              na                 na             na            na            na
Industrial gross output                                                             na                 -6.3             -8.9          -30.4               -19.7          -24.7         -21.4          -6.7
Agricultural gross output                                                           na                  na              -2.6          -25.0               -15.4          -13.0          -6.8           3.0
Employment                                                                                                                 (Percentage change)
Labour force (end-year)                                                             na                  na               1.0             -2.3              -0.6             -1.4         1.0            2.5
Employment (end-year)                                                               na                  na               0.8             -0.3              -0.2             -2.3        -0.5            2.0

Unemployment (end-year)                                                             na                  na               na             15.4                0.5              0.6         0.7            0.8
Prices and wages                                                                                                          (Percentage change)
Consumer prices (annual average)                                                    na                  7.8           107.0           912.0             1,129.0       1,664.0         412.0           19.7
Consumer prices (end-year)                                                          na                  na            126.0         1,395.0             1,294.0       1,788.0          85.0            6.5
Producer prices (annual average)                                                    na                  na              na               na                 na            na        1,734.0          122.7
Producer prices (end-year)                                                          na                  na              na               na                 na            na            na            87.2
Gross average monthly earnings in economy (annual average)                          na                  8.9            63.1           750.0               708.3         601.5         307.6           43.1
Government sector                                                                                                         (In per cent of GDP)
General government balance1                                                         na                  na               na               2.7             -15.3          -11.2          -3.1          -2.4
General government expenditure                                                      na                  na               na              48.4              55.9           36.8          21.1          16.7
General government debt                                                             na                  na               na                na               na            25.7          19.6          14.1
Monetary sector                                                                                                           (Percentage change)
Broad money (M2, end-year)                                                          na                  na               na              na              825.8        1,116.5           -8.6          25.8
Domestic credit (end-year)                                                          na                  na               na              na              480.0          841.0           61.3          33.0

Broad money (M2, end-year)                                                          na                  na               na             38.6              54.8              55.9         9.0            8.8
Interest and exchange rates                                                                                         (In per cent per annum, end-year)
Refinance rate (6 months)                                                           na                  na               na               na               na              na          80.0           20.0
Interbank interest rate (3 months)2                                                 na                  na               na               na               na              na           na            36.0
Deposit rate                                                                        na                  na               na              10.0             34.0           406.0         90.0           13.0
Lending rate                                                                        na                  na               na              60.0            257.0           406.0        107.0           33.0

Exchange rate (end-year)3                                                           na                  na               na               0.0               0.0              0.8         0.9            0.8
Exchange rate (annual average)3                                                     0.0                 0.0              0.0              0.0               0.0              0.3         0.9            0.9
External sector

Current account                                                                     na                  na            153.0           -198.0             -160.0        -123.0        -318.0          -821.0
Trade balance                                                                       na                  na            -41.0           -154.0             -122.0        -163.0        -275.0          -549.0
   Merchandise exports                                                              na                  na            295.0          1,263.0              697.0         682.0         680.0           789.0
   Merchandise imports                                                              na                  na            336.0          1,417.0              819.0         845.0         955.0         1,338.0
Foreign direct investment, net                                                      na                  na              na               na                 0.0          22.0         330.1           627.3
Gross reserves, excluding gold (end-year) 4                                         na                  na              na               na                 0.1           2.0         119.0           214.0
External debt stock                                                                 0.0                 0.0             0.0              0.0               52.0         239.0         321.0           438.0
                                                                                                                                                                                                              (In
Gross reserves, excluding gold (end-year)                                           na                  na               na               na                na               0.0         1.1            1.5
                                                                                                                                                                                                              (In p
Debt service                                                                        na                  na               na               na                na               0.4         5.2            7.4
Memorandum items                                                                                                      (Denominations as indicated)
Population (end-year, million)                                                      7.1                7.2              7.3              7.4               7.5             7.6          7.7            7.8
GDP (in billions of manats)5                                                        na                 0.0              0.0              0.0               0.0             0.4          2.1            2.7
GDP per capita (in US dollars)                                                      na               346.3            108.2              0.0             208.1           156.1        312.9          407.3
Share of industry in GDP (in per cent)                                              na                22.0             23.6            29.4               24.9            16.5         21.6           28.8
Share of agriculture in GDP (in per cent)                                           na                26.0             30.4            25.9               26.9            32.2         25.1           24.7
Current account/GDP (in per cent)                                                   na                 na              19.3              na              -10.2           -10.3        -13.2          -25.8
External debt - reserves (in US$ million)                                           na                 na               na               na               51.9           237.0        202.0          224.0
External debt/GDP (in per cent)                                                     na                 0.0              0.0              na                3.3            20.0         13.3           13.8
External debt/exports of goods and services (in per cent)                           na                 na               na               na                6.3            29.2         37.7           46.7


1                                                                                         4
    General government consolidates all levels of government, except for                      By end-December 2008 there were additional foreign exchange assets of
    municipalities and state-owned enterprises, and includes the State Oil Fund               approximately US$ 11.2 billion in the State Oil Fund.
                                                                                          5
    and other extra-budgetary funds.                                                          GDP figures in roubles for 1989-91 were converted at the rate of 10 roubles
2
    90-day interbank offer rate in manats, nominal.                                           per manat. The figures for 1992-93 are estimates from the IMF. The manat
3
    In January 2006 Azerbaijan introduced a new currency denomination. One new                became official legal tender only in January 1994.
    manat is equal to 5,000 old manat. All data are retrospectively converted in
    new manat.
1997             1998              1999             2000              2001             2002             2003              2004              2005             2006              2007              2008              2009



          6.0               10.0             11.0             11.1              9.9             10.6              11.2              10.2             24.3               30.5              23.4              10.8               9.3
         13.4               15.1             12.1             12.1              9.9             13.1               6.0               6.9              6.3               18.9               3.8              10.0               na
          3.1                0.7             -1.3              2.2              4.9              0.5              11.1               4.6              1.9               16.9              27.0              18.0               na
         67.0               45.0             -2.0              2.6             20.6             64.8              72.6              13.0             -0.5               15.2               3.5              17.0               na
          na                 na               na               na              34.1             14.0               9.2              -9.0             52.7               73.7              66.6              25.8               na
          na                 na               na               na              33.0             48.4              45.6              -9.5             -1.9               20.1              11.5               4.8               na
          0.3                2.2              3.6              6.9              5.1              3.6               6.1               5.7             33.5               36.6              25.0               6.0               4.0
         -6.9                6.2              7.1             12.1             11.1              6.4               5.6               4.6              7.5                0.9               4.0               6.1               na


         -11.0               0.3               0.1              0.0              0.4              0.4              0.6               1.7               1.1               9.2               0.7              -2.1               na
           0.2               0.2               0.1             -0.1              0.3              0.3              0.6               1.7               1.1               3.2               1.0               0.2               na
                                 (In per cent of labour force)
           1.0               1.1               1.1              1.1              1.3              1.4              1.4               1.4               1.4               6.8               6.5               4.3               na


          3.5               -0.8             -8.5              1.8              1.5              2.8               2.2               6.7              9.6                8.3              16.7              20.8               1.5
          0.4               -7.6             -0.5              2.2              1.5              3.3               3.6              10.4              5.5               11.4              19.7              22.0               0.7
         29.8                0.0             -6.1             27.4              1.8             -2.3              16.1              12.9             10.6               17.7              12.8              15.1               na
          2.2              -21.5             17.9             14.5             -5.2              7.2              11.2              21.9             10.8               17.1              11.3              11.6               na
         58.5               18.9              9.5             20.2             17.3             21.3              21.4              26.2             21.9               19.8              51.5              25.2               na


         -4.0               -3.9             -4.7             -0.6             -0.4             -0.5              -0.8               1.0              2.6               -0.2               2.4              25.5               9.4
         19.2               23.7             23.6             20.8             18.7             27.7              28.5              25.9             22.7               27.4              27.4              27.6               na
         13.5               14.9             24.2             20.3             20.9             20.5              20.0              18.6             14.2               10.8               9.4               9.7               9.9


         29.2              -21.7             15.2             18.3               5.6            15.5              28.3              31.9             16.2             128.5             141.8               38.2               na
         15.0                8.8            -10.4             13.5             -38.1            89.2              26.1              39.4             50.0              75.4              98.5               33.7               na
                                    (In per cent of GDP)
           9.9               7.1              7.4              7.0               6.6              6.7              7.3               8.0               6.4               9.7              16.4              16.0               na


         12.0               14.0          10.0                10.0             10.0              7.0               7.0               7.0              9.0                9.5              13.0               8.0               na
         22.9               23.2          20.5                22.5             19.8             19.7              20.3              16.6             15.3               14.3              16.1              16.6               na
         11.5               10.9          11.4                12.9              8.5              8.7               9.5               9.2              8.5               10.6              11.6              12.2               na
         21.5               27.7          17.9                19.7             19.7             17.4              15.5              15.7             17.0               17.7              19.1              19.8               na
                                 (Manats per US dollar)
           0.8               0.8           0.9                 0.9               1.0              1.0              1.0               1.0               0.9               0.9               0.8               0.8               0.8
           0.8               0.8           0.8                 0.9               0.9              1.0              1.0               1.0               0.9               0.9               0.9               0.8               0.8


                                  (In millions of US dollars)
        -914.9           -1,364.5           -599.7            -186.7           -49.0           -770.0          -2,020.7          -2,588.0            167.0           3,707.0           9,013.0          16,425.6           6,366.2
        -566.9           -1,046.1           -408.2             260.0           581.0            482.0             -97.7             162.0          3,299.0           7,745.0          15,224.0          23,010.4          12,298.6
         808.3              677.8          1,025.2          1,799.0          2,046.0          2,305.0           2,625.0           3,743.0          7,649.0          13,014.0          21,269.0          30,584.8          19,115.5
       1,375.2            1,723.9          1,433.4          1,539.0          1,465.0          1,823.0           2,722.7           3,581.0          4,350.0           5,269.0           6,045.0           7,574.4           6,816.9
       1,115.0            1,023.0            510.3             149.0           299.0          1,048.0           2,353.0           2,351.0            458.0          -1,300.9          -5,200.6            -555.2            -903.0
         467.0              447.3            672.6             679.6           725.0            721.0             803.0           1,075.0          1,178.0           2,500.0           4,273.0           6,467.0           5,200.0
         507.0              708.0            964.0          1,043.8          1,154.4          2,602.5           2,744.3           3,488.8          4,345.3           4,865.9           5,835.1           6,400.0               na
                        (In months of imports of goods and services)
           2.7                2.2               4.2              4.0             4.1              2.8              2.0               2.0               2.0               3.8               5.8               7.7               na
                        (In per cent of exports of goods and services)
           7.3                4.7               0.1              4.6             4.9              4.4              5.2               3.6               1.3               1.1               0.8               1.1               na


          7.9                8.0             8.0               8.0              8.1               8.2              8.3               8.3               8.4               8.4               8.4               8.4               8.4
          3.2                3.4             3.8               4.7              5.3               6.1              7.1               8.5              12.5              18.7              26.9              38.0              34.6
        503.0              559.1           571.5             659.1            704.6             760.5            880.9           1,050.9           1,576.8           2,497.9           3,729.6           5,508.2           5,119.1
         24.9               22.2            22.2              36.0             37.6              37.4             37.2              38.3              47.5              57.3              59.1              55.6               na
         20.0               18.0            18.2              15.9             14.7              13.8             12.2              10.8               9.0               6.7               5.9               5.6               na
        -23.1              -30.7           -13.1              -3.5             -0.9             -12.3            -27.8             -29.8               1.3              17.7              28.8              35.5              14.8
         40.0              260.7           291.4             364.2            429.4           1,881.5          1,941.3           2,413.8           3,167.3           2,365.9           1,562.1             -67.0               na
         12.8               15.9            21.0              19.8             20.2              41.7             37.7              40.2              32.8              23.2              18.6              13.8               na
         44.1               70.1            75.2              50.7             49.4              97.6             89.8              82.4              52.2              35.5              26.3              20.2               na
2010



            9.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            5.0
            6.0
            na
            na
            na


           13.9
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       12,600.0
            na
       28,673.3
        8,248.5
            na
            na
            na

            na

            na


            na
           41.0
            na
            na
            na
           24.6
            na
            na
            na
Belarus
                                                                                 1989               1990             1991             1992               1993      1994         1995 1996
                                                                                                                                                                Estimate   Projection

Output and expenditure                                                                                            (Percentage change in real terms)
GDP                                                                               8.0                -3.0             -1.2            -9.6               -7.6     -11.7        -10.4            2.8
   Private consumption                                                            na                  na              -6.1            -7.9               -1.5     -14.5        -12.3            4.5
   Public consumption                                                             na                  na              -7.7          -15.3               -10.5      -5.6         -2.6            0.0
   Gross fixed capital formation                                                  na                  na               4.4          -18.6                -7.6     -13.7        -29.6            7.2
   Exports                                                                        na                  na               na              na                 na       28.1         90.8           27.1
   Imports                                                                        na                  na               na              na                 na       21.4         79.8           26.5
Industrial gross output                                                           4.6                 2.1             -1.0            -9.2               -9.4     -14.6        -11.7            3.5
Agricultural gross output                                                         8.9                -8.7             -4.9            -8.5                3.7     -14.4         -4.7            2.4
Employment                                                                                                               (Percentage change)
Labour force (end-year)                                                           na                 -0.1             -2.2             -2.9              -0.6       -2.4        -5.7             0.1
Employment (end-year)                                                             0.5                -1.0             -2.5             -2.6              -1.3       -2.6        -6.2            -1.0

Unemployment (end-year)                                                           0.0                0.0              0.1              0.5                1.4       2.1          2.7            3.9
Prices and wages                                                                                                        (Percentage change)
Consumer prices (annual average)                                                  1.7                4.7             94.1           970.3             1,190.2   2,221.0       709.3            52.7
Consumer prices (end-year)                                                        na                 na             147.5         1,559.2             1,996.6   1,959.9       244.0            39.3
Producer prices (annual average)                                                  na                 2.0            151.1         1,939.0             1,536.3   2,170.8       499.1            34.7
Producer prices (end-year)                                                        na                 na             380.0         4,087.7             3,867.4   1,866.7       122.0            29.0
Gross average monthly earnings in economy (annual average)                        na                 0.0            101.1           837.5             1,106.8      60.4       668.9            60.5
Government sector                                                                                                       (In per cent of GDP)
General government balance                                                        na                  na               na               -2.0            -5.5       -3.5         -2.7           -1.5
General government expenditure                                                    na                  na               na              47.8             57.9       47.3         42.5           40.7
General government debt                                                           na                  na               na                na              na         na          17.9            9.8
Monetary sector                                                                                                         (Percentage change)
Broad money (M3, end-year)                                                        na                  na               na              na                 na    3,269.0       158.4            52.4
Domestic credit (end-year)                                                        na                  na               na              na                 na    2,603.4       157.4            58.5

Broad money (M3, end-year)                                                        na                  na               na               na              20.9       39.0         14.8           14.2
Interest and exchange rates                                                                                       (In per cent per annum, end-year)
Refinancing rate                                                                  na                  na              12.0             30.0            210.0      480.0        66.0            35.0
Treasury bill rate (3-month maturity)                                             na                  na               na               na               na         na          na              na
Deposit rate (1 year)1                                                            na                  na               na               na              65.1       89.6       100.8            32.4
Lending rate (1 year)2                                                            na                  na               na               na              71.6      148.5       175.0            62.3

Official exchange rate (end-year)                                                 0.0                0.0              0.0              0.0                0.7      10.6         11.5           15.5
Official exchange rate (annual average)                                           0.0                0.0              0.0              0.0                0.3       3.7         11.5           13.2
External sector

Current account                                                                   na                 na               na               na              -435.0    -443.8      -458.1           -515.9
Trade balance                                                                     na                 na               na               na              -527.9    -489.8      -665.5         -1,148.5
   Merchandise exports                                                            na                 na               na               na             1,970.1   2,510.0     4,803.2          5,790.1
   Merchandise imports                                                            na                 na               na               na             2,498.0   2,999.8     5,468.7          6,938.6
Foreign direct investment, net                                                    na                 na               na               na                17.6      10.5        14.7            104.5
Gross reserves, excluding gold (end-year)                                         na                 na               na               na                37.4     101.0       377.0            469.2
External debt stock3                                                              0.0                0.0             30.0            569.9            1,459.0   1,251.0     1,527.0            950.0
                                                                                                                                                                                                       (In
Gross reserves, excluding gold (end-year)                                         na                  na               na               na                0.2       0.4          0.8            0.8
                                                                                                                                                                                                       (In
Debt service                                                                      na                  na               na               na                0.0       0.0          0.0            2.3
Memorandum items                                                                                                    (Denominations as indicated)
Population (end-year, million)                                                   10.2               10.2             10.2            10.2                10.2      10.2        10.2            10.2
GDP (in billions of Belarussian roubles)                                          0.0                0.0              0.0              0.1                1.0      17.8       121.4           191.8
GDP per capita (in US dollars)                                                  593.2              717.9            252.3           523.6               357.6     474.6     1,033.7         1,427.2
Share of industry in GDP (in per cent)                                            na                37.9             40.1            38.3                27.9      26.7        31.4            34.6
Share of agriculture in GDP (in per cent)                                         na                 na               na             23.8                18.3      15.0        17.7            16.0
Current account/GDP (in per cent)                                                 na                 na               na               na               -11.9      -9.1        -4.3            -3.6
External debt - reserves (in US$ million)                                         na                 na               na               na             1,421.6   1,150.0     1,150.0           480.9
External debt/GDP (in per cent)                                                   0.0                0.0              1.2            10.7                39.8      25.8        14.5             6.6
External debt/exports of goods and services (in per cent)                         na                 na               na               na                67.7      45.3        29.0            14.2

1                                                                                       3
    Data refer to weighted average interest rates on new one-year deposits in               Includes medium and long-term public and publicly guaranteed
    commercial banks.                                                                       debt and an estimate of private debt.
2
    Data refer to weighted average interest rates for one-year loans by
    commercial banks.
1997              1998               1999              2000               2001              2002              2003              2004              2005              2006              2007              2008              2009



          11.4                 8.4               3.3                5.8               4.7               5.0               7.0              11.4               9.4               9.9               8.2              10.0               0.2
          11.4                14.1               9.5                8.0              17.9              11.4               7.4               9.6              15.0              14.6              11.3              16.2               na
           6.8                 6.3               5.5                5.8               3.1               0.3               0.3              -0.2               0.6               0.2               0.5               0.3               na
           9.7                10.1              -4.0                2.1              -3.5               6.0              20.8              20.9              20.0              32.2              16.2              23.5               8.6
          23.9                -3.4              -2.3                na                na                na                na                na                na                na                na                na                na
          24.9                -1.2              -8.6                na                na                na                na                na                na                na                na                na                na
          18.8                12.4              10.3                7.8               5.9               4.5               7.1              15.9              10.5              11.4               8.7              11.5              -2.8
          -4.9                -0.7              -8.3                9.3               1.8               0.7               6.6              12.6               1.7               6.0               4.4               8.6               1.3


           -4.1                 0.0               0.3              -0.1              -0.4              -0.4              -0.5              -1.2               0.0               0.9               1.3               2.5               0.6
            0.1                 1.2               0.6              -0.1              -0.6              -0.8              -1.0              -0.5               0.8               1.2               1.7               2.6               0.6
                                  (In per cent of labour force)
           2.8                  2.3               2.1               2.1               2.3               2.9               3.0               1.9               1.5               1.2               1.0               0.8               0.9


          63.9                72.9            293.7               168.6             61.1               42.5              28.4              18.1              10.3               7.0               8.4              14.9              12.8
          63.1               181.7            251.2               107.5             46.1               34.8              25.4              14.4               8.0               6.6              12.1              13.3               9.9
          87.5                72.5            355.8               185.6             71.8               40.4              37.5              24.1              12.1               8.3              16.4              15.0              12.8
          89.0               200.0            245.1               168.0             39.1               42.6              28.1              18.8              10.0               9.0              16.8              16.4              11.3
          87.3               104.2            322.4               200.9            108.8               53.8              32.5              38.6              33.4              25.5              19.2              25.1              15.0


          -0.7                -1.0              -2.0               -0.1              -1.9              -2.1              -1.7               0.0              -0.7               1.4               0.4               1.4               0.4
          46.2                45.4              47.3               45.9              46.8              46.6              47.7              46.0              48.0              48.0              49.0              49.5              46.6
          11.6                11.3              13.0               16.5              13.2              11.0              10.4               8.9               8.3               8.8              11.5              13.0              22.3


         111.4               276.0          128.7                 216.3              66.1              50.3              56.3              44.1              42.2              39.3              40.0              26.3              23.1
         115.5               297.4          143.2                 190.8              65.0              54.6              64.7              39.1              34.8              53.2              22.2              51.7              14.0
                                   (In per cent of GDP)
          15.8                30.9           16.4                  17.2              15.2              15.0              16.8              17.7              19.3              22.1              25.2              24.0              27.9


          40.0                48.0           120.0            80.0                   48.0              38.0              28.0              17.0              11.0              10.5              10.0              12.0              13.5
           na                  na               na               na                   na                na                na                na                na                na                na                na                na
          15.6                14.3            23.8            37.6                   34.2              26.9              17.4              12.7               9.2               7.7               8.1              10.3              10.4
          31.8                27.0            51.0            67.7                   47.0              36.9              24.0              16.9              11.4               8.8               8.5               9.5              11.4
                             (Belarussian roubles per US dollar)
          30.7               106.0           320.0         1,180.0                1,580.0           1,920.0           2,156.0           2,170.0           2,152.0           2,140.0           2,150.0           2,200.0           2,859.0
          26.0                46.1           249.3           876.8                1,390.0           1,790.9           2,051.3           2,160.3           2,153.8           2,144.6           2,146.0           2,136.7           2,789.0


                                    (In millions of US dollars)
         -859.2            -1,016.5             -193.7           -338.4            -410.6            -326.4            -434.4          -1,193.3             435.5          -1,431.2          -3,037.6          -5,048.8          -6,401.9
       -1,407.0            -1,501.1             -570.0           -884.1            -806.7            -914.3          -1,255.6          -2,271.8            -637.6          -2,269.0          -4,071.0          -6,111.2          -6,971.3
        6,918.7             6,172.3            5,646.4          6,640.5           7,334.1           7,964.7          10,072.9          13,942.2          16,108.8          19,834.7          24,328.9          33,043.3          21,339.0
        8,325.7             7,673.4            6,216.4          7,524.6           8,140.8           8,879.0          11,328.5          16,214.0          16,746.4          22,103.7          28,399.9          39,154.5          28,310.3
          349.5               200.9              443.2            118.6              95.5             453.3             170.3             162.5             302.5             351.0           1,770.0           2,143.4           1,833.1
          393.7               702.8              294.3            350.5             390.7             417.4             461.5             690.8           1,106.5           1,067.2           4,182.0           3,061.1           5,652.5
          976.0             1,355.6            1,260.8          1,264.8           2,523.2           3,308.3           4,174.9           4,935.4           5,168.4           6,785.7          12,719.2          14,817.9          22,029.9
                         (In months of imports of goods and services)
           0.5                   1.0                0.5             0.5               0.5               0.5               0.5               0.5               0.7               0.5               1.6               0.9               2.2
                         (In per cent of exports of goods and services)
           1.6                   1.9                6.6             9.0               7.6               7.1              13.7              11.7              12.4              16.6              14.4              17.3               na


          10.1                10.1             10.0              10.0                10.0               9.9               9.8               9.8               9.8               9.7               9.7            9.7               9.6
         366.8               702.2          3,026.1           9,133.8            17,173.2          26,138.3          36,564.8          49,991.8          65,067.0          79,267.0          97,165.0      128,828.8         136,800.0
       1,393.5             1,511.7          1,211.5           1,042.8             1,241.6           1,474.4           1,809.9           2,361.4           3,096.9           3,810.2           4,672.5        6,234.2           5,122.9
          34.3                33.4             31.9              31.0                29.9              29.6              30.8              32.7              33.1              32.2              31.6           28.1               na
          15.4                13.9             14.6              14.2                11.9              11.8              10.2              10.3               9.8               9.3               8.8            8.4               na
          -6.1                -6.7             -1.6              -3.2                -3.3              -2.2              -2.4              -5.2               1.4              -3.9              -6.7           -8.4             -13.1
         582.3               652.8            966.5             914.3             2,132.5           2,890.9           3,713.4           4,244.6           4,061.9           5,718.5           8,537.2       11,756.8          16,377.4
           6.9                 8.9             10.4              12.1                20.4              22.7              23.4              21.3              17.1              18.4              28.1           24.6              44.9
          12.5                19.1             19.7              16.6                29.9              35.6              36.1              31.5              28.4              30.5              46.1           39.7              88.7
2010



            6.6
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            7.1
            8.6
            na
            na
            na


           -1.5
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       -6,444.1
       -6,950.0
       25,606.8
       32,556.8
        1,706.2
            na
            na

            na

            na


         na
   158,953.4
         na
         na
         na
       -12.1
         na
         na
         na
BOSNIA AND HERZEGOVINA
                                                                                  1989               1990            1991               1992         1993       1994         1995 1996
                                                                                                                                                             Estimate   Projection

Output and expenditure                                                                                           (Percentage change in real terms)
GDP                                                                                na               -23.2          -12.1           -50.0             -60.0       0.0         20.8           86.0
Industrial gross output                                                            na                 na              na              na               na        na          33.0           38.1
Agricultural gross output                                                          na                 na              na              na               na        na          -9.7           28.4
Employment                                                                                                                (Percentage change)
Labour force (end-year)                                                            na                 na                 na              na            na         na           na           -12.5
Employment (end-year)                                                              na                 na                 na              na            na         na           na             na

Unemployment (end-year)                                                            na                 na                 na              na            na         na           na             na
Prices and wages                                                                                                          (Percentage change)
Consumer prices (annual average)
   Federation (KM based)                                                           na                 na                 na              na            na         na         -4.4           -24.5
   Republika Srpska (KM based)                                                     na                 na                 na              na            na         na         12.9            16.9
Consumer prices (end-year)
   Federation (KM based)                                                           na                 na                 na              na            na         na           na             7.7
   Republika Srpska (KM based)                                                     na                 na                 na              na            na         na           na           -17.7
Gross average monthly earnings in economy (annual average)
   Federation                                                                      na                 na                 na              na            na         na           na          289.5
   Republika Srpska                                                                na                 na                 na              na            na         na           na            na
Government sector                                                                                                         (In per cent of GDP)
General government balance                                                         na                 na                 na                na          na         na         -3.3           -3.9
General government expenditure                                                     na                 na                 na                na          na         na         36.4           46.8
Monetary sector                                                                                                           (Percentage change)
Broad money (M2, end-year)                                                         na                 na                 na              na            na         na          8.5           96.2
Domestic credit (end-year)                                                         na                 na                 na              na            na         na          na             na

Broad money (M2, end-year)                                                         na                 na                 na              na            na       15.1         13.1           16.6
Exchange rates

Exchange rate (end-year)                                                           na                 na            18.3                 na            na         na           na            na
Exchange rate (annual average)                                                     na                 na             na                  na            na         na           na            1.5
External sector

Current account                                                                    na                 na              na                 na           na         0.0      -193.0           -748.0
Trade balance                                                                      na                 na              0.0                0.0          0.0        0.0      -930.0         -1,546.0
   Merchandise exports                                                             na                 na              0.0                0.0          0.0        0.0       152.0            336.0
   Merchandise imports                                                             na                 na              0.0                0.0          0.0        0.0     1,082.0          1,882.0
                               1
Foreign direct investment, net                                                     na                 na              na                 na           na         0.0         0.0              0.0
Gross reserves, excluding gold (end-year)                                          na                 na              na                 na           na         na          na             235.0
External debt stock2                                                               na                 na              na                 na           na         na      3,361.0          3,620.0
                                                                                                                                                                                                    (In
Gross reserves, excluding gold (end-year)                                          na                 na                 na              na            na         na           na            1.2
                                                                                                                                                                                                    (In p
Debt service                                                                       na                 na                 na              na            na         na       134.6            87.1
Memorandum items                                                                                                   (Denominations as indicated)
Population (end-year, million) 3                                                   na                 4.4            4.4              4.2             4.0        3.9         3.8             3.8
GDP (in millions of markas)                                                        na                 na             na               na              na     2,406.1     3,018.7         4,681.5
GDP per capita (in US dollars)                                                     na                 na             na               na              na         na          0.0           818.7
Share of industry in GDP (in per cent)                                             na                 na             na               na              na         na         23.9            21.4
Share of agriculture in GDP (in per cent)                                          na                 na             na               na              na         na         24.6            20.5
Current account/GDP (in per cent)                                                  na                 na             na               na              na         na          na            -24.0
External debt - reserves (in US$ million)                                          na                 na             na               na              na         na          na          3,385.0
External debt/GDP (in per cent)                                                    na                 na             na               na              na         na          na            116.4
External debt/exports of goods and services (in per cent)                          na                 na             na               na              na         na        882.2           550.2


1                                                                                        3
    Excludes capital transfers for reconstruction.                                           Excludes refugees abroad.
2
    Rescheduling agreements with the Paris and London Clubs in 1998-99 resulted
    in a substantial reduction of total external debt.
1997              1998              1999             2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



          37.0               15.6              9.6               5.5               4.3               5.5               3.0               6.3               3.9               6.7              10.8               6.0              -2.8
          33.0               23.3             12.1               9.4              -2.0              11.5               3.8               7.2               6.4               5.5               8.2               8.0              -3.3
          22.8                8.6              na                na                na                na                na               13.3               5.8               6.1              -0.3               3.0               na


           -6.1               6.7               3.9             -1.3              -1.4              -0.7               0.8               1.6               0.5               9.6               1.6              -2.8              -2.6
            na               11.2               4.7             -2.9              -3.4              -2.0              -1.0               0.2               2.1               4.3              30.8               4.7              -3.5
                                  (In per cent of labour force)
            na               38.4              37.9             39.0              40.2              41.0              42.1              42.9              42.0              44.8              28.9              23.4              24.1



          14.0                5.1             -0.9               1.9               1.9              -0.2               0.1              -0.3               3.0               6.0               1.9               7.7              -2.7
          -7.3              -14.0             14.1              14.0               7.0               1.7               1.8               1.9               5.2               6.4               1.1               6.9               0.5

           13.6               1.8             -1.0               4.0               0.3              -0.7               0.3              -0.3               4.4               4.5               5.5               4.0              -0.3
          -10.0               5.6             14.0              16.1               2.2               2.4               1.3               2.2               3.7               4.6               4.3               3.6              -0.4

          66.6                6.3              5.2              10.0               7.6               8.7               8.6               1.9               4.6               8.0               9.8              13.4               9.0
           na                 na              22.7              23.2              14.7              18.7               9.3              11.6              10.0              12.2              10.3              29.4               6.4


          -0.4               -0.1             -4.0              -4.7               2.2              -4.2               2.3               1.6               2.0               2.0              -0.1              -4.2              -4.6
          35.8               57.2             62.8              54.4              46.5              48.8              39.2              38.8              36.8              40.5              41.7              44.2              43.4


          52.0               31.3             39.9              13.9              89.3               8.6               8.4              24.3              18.2              24.7              21.6               4.3               1.7
           na                16.2             -1.3              68.1             -25.4              27.7              20.7               8.7              27.6              20.8              16.1              32.7              -1.1
                                     (In per cent of GDP)
          17.1               19.2             23.6              22.0              38.5              39.5              37.9              43.3              44.0              47.1              49.6              45.5              47.4


                                      (KM per US dollar)
           1.8                1.7             1.9                2.1               2.2               1.9               1.5               1.4               1.6               1.5               1.3               1.4               1.4
           1.7                1.8             1.8                2.1               2.2               2.1               1.7               1.6               1.5               1.6               1.4               1.3               1.4


                                   (In millions of US dollars)
       -1,060.2             -388.1            -487.5           -866.2         -1,042.5          -1,194.3          -1,631.0          -1,639.3          -1,844.5            -981.0          -1,600.9          -2,799.5          -1,292.6
       -1,758.2           -2,050.7          -1,852.0        -1,980.0          -2,073.0          -3,340.9          -4,159.3          -4,569.7          -4,898.9          -4,298.1          -5,703.5          -7,097.3          -4,749.2
          575.0              730.7             748.8            755.0            854.0           1,110.2           1,477.5           2,086.7           2,555.3           3,381.4           4,243.3           5,194.0           4,079.9
        2,333.2            2,781.4           2,567.7         2,735.0           2,927.0           4,451.1           5,636.8           6,656.4           7,454.2           7,679.5           9,946.9          12,291.3           8,829.1
            0.0              100.0              90.0            146.4            119.0             266.0             381.8             708.3             607.8             718.4           2,040.2           1,043.8             255.6
           80.0              175.0             455.0            497.0          1,221.0           1,196.0           1,611.0           2,208.0           2,530.0           3,371.0           4,524.0           3,515.0           3,245.2
        4,076.0            3,900.0           3,827.3         2,752.9           2,840.0           3,580.0           4,475.9           5,139.2           5,400.2           6,025.6           7,342.5           7,981.3           9,066.8
                         (In months of imports of goods and services)
           0.4                 0.7               2.0              2.0              4.6               3.0               3.2               3.7               3.8               5.0               5.2               4.2               4.1
                         (In per cent of exports of goods and services)
          38.4                 8.9              10.1              7.9              6.2               8.7               4.0               3.1               4.2               4.0               3.2               2.5               3.3


           3.8                3.8              3.8               3.8               3.8               3.8               3.8               3.8               3.8               3.8               3.8               3.8               3.8
       6,880.9            8,041.4          9,157.3          11,214.0          12,137.0          12,829.0          14,505.0          15,786.0          18,338.2          21,366.1          24,689.1          28,106.1          27,427.5
       1,046.9            1,208.4          1,309.9           1,390.4           1,461.6           1,625.9           2,203.2           2,638.1           3,120.9           3,606.0           4,546.6           5,534.8           5,122.3
          22.6               22.5              na                na                na                na               16.1              16.4              16.3              16.0              21.0              20.0              22.4
          17.5               16.0              na                na                na                na                8.1               8.9               8.7               8.5               7.9               8.0               7.4
         -26.6               -8.5             -9.8             -16.4             -18.8             -19.3             -19.5             -16.4             -15.6              -7.2              -9.3             -13.3              -6.6
       3,996.0            3,725.0          3,372.3           2,255.9           1,619.0           2,384.0           2,864.9           2,931.2           2,870.2           2,654.6               0.0           3,457.3           5,821.6
         102.5               84.9             76.9              52.1              51.1              57.9              53.5              51.3              45.5              44.0              42.5              37.9              46.6
         406.8              300.4            294.1             225.1             218.0             249.6             203.6             174.2             152.4             133.3             128.8             116.4             165.9
2010



         0.8
         na
         na


         na
         na

         na



         na
         na

         na
         na

         na
         na


        -5.0
         na


         na
         na

         na



         na
         na



         na
         na
         na
         na
       261.5
         na
         na

         na

         na


         na
         na
         na
         na
         na
        -5.5
         na
         na
         na
Bulgaria
                                                                                      1989                1990              1991             1992                1993        1994           1995 1996
                                                                                                                                                                          Estimate     Projection

Output and expenditure                                                                                                  (Percentage change in real terms)
GDP                                                                                    0.5                -9.1            -11.7             -7.3                 -1.5         1.8            2.9           -9.4
   Private consumption                                                                 na                  na             -15.7              1.0                 -0.8        -2.6           -0.5           -5.7
   Public consumption                                                                  na                  na             -10.3           -14.9                 -12.5       -11.9           -8.2          -33.2
   Gross fixed capital formation                                                       na                  na             -19.9             -7.3                -17.5         1.1           16.1          -21.2
   Exports of goods and services                                                       na                  na                na              na                   na          na             na             na
   Imports of goods and services                                                       na                  na                na              na                   na          na             na             na
Industrial gross output                                                               -1.1               -16.8            -21.0             -6.4                 -6.2         5.9           -5.4          -11.8
Agricultural gross output                                                              na                  na               4.3             -6.3                -19.4         7.1           16.0          -10.9
Employment                                                                                                                     (Percentage change)
Labour force (end-year)                                                                na                  na               -4.3             -3.3                -0.1            3.5        -6.9           -0.7
Employment (end-year)                                                                  na                 -6.2             -13.0             -8.1                -1.6            0.6         1.3            0.1

Unemployment (end-year)                                                                na                  1.6              10.5             15.0                16.3        18.6           13.7          13.0
Prices and wages                                                                                                              (Percentage change)
Consumer prices (annual average)                                                      6.4                26.3             333.5            82.0                  73.0        96.3           62.0         123.0
Consumer prices (end-year)                                                           10.0                72.5             338.9            79.2                  63.9       121.9           32.9         310.8
Producer prices (annual average)                                                      na                  na                na             55.9                  26.9        75.0           52.7         126.9
Producer prices (end-year)                                                            na                  na              293.1            40.2                  24.9       105.3           38.9         356.7
Gross average monthly earnings in economy (annual average)                            na                  na                na            113.5                  57.8        53.5           53.2          83.8
Government sector                                                                                                             (In per cent of GDP)
General government balance1                                                          -1.0                -8.1              -4.5               -2.9             -10.9         -5.7          -5.6          -10.3
General government expenditure 1                                                     55.3                58.4              41.3              43.6               48.1         45.7          41.3           42.0
General government debt2                                                              na                  na              184.5            165.5               172.0        183.2         114.9          319.8
Monetary sector                                                                                                                (Percentage change)
Broad money (M2, end-year)                                                             na                  na                 na            53.8                 54.6        76.8           43.5         123.9
Domestic credit (end-year)                                                             na                  na                 na            57.2                 56.0        37.1           11.5         215.9

Broad money (M2, end-year)                                                             na                  na               71.9             74.7                77.6        78.0           66.8          74.8
Interest and exchange rates                                                                                              (In per cent per annum, end-year)
Base interest rate3                                                                    na                  na                54.0             41.0               52.0        72.0           34.0         180.0
Interbank interest rate (up to 1 month)                                                na                  na                48.7             52.4               68.4       107.1           44.0         442.3
Deposit rate (1 month)                                                                 na                  na                57.7             45.3               53.6        72.3           25.3         211.8
Lending rate (less than 1 year)                                                        na                  na                83.9             64.6               83.7       117.8           51.4         480.8

Exchange rate (end-year)4                                                              0.0                 0.0               0.0              0.0                 0.0            0.1         0.1            0.5
Exchange rate (annual average)4                                                        0.0                 0.0               0.0              0.0                 0.0            0.1         0.1            0.2
External sector

Current account                                                                     -769.0           -1,710.0              -76.9          -360.5             -1,098.1       -32.0        -197.9           163.7
Trade balance                                                                       -692.0           -1,314.0              -32.0          -212.4               -885.5       -16.9          37.1           121.7
   Merchandise exports                                                             8,268.0            6,113.0            3,737.0         3,956.4              3,726.4     3,935.1       4,967.0         4,689.2
   Merchandise imports                                                             8,960.0            7,427.0            3,769.0         4,168.8              4,611.9     3,952.0       4,929.9         4,567.5
Foreign direct investment, net                                                         na                 4.0               55.9            41.5                 40.0       105.4          98.4           137.5
Gross reserves, excluding gold (end-year)                                          1,076.0                0.0              310.6           902.2                655.2     1,001.8       1,236.5           518.0
External debt stock                                                                9,200.0           10,000.0           12,247.1        13,805.7             13,836.4    11,338.4      10,148.0         9,601.6
                                                                                                                                                                                                                  (In
Gross reserves, excluding gold (end-year)                                              1.3                 0.0               0.9              2.0                 1.3            2.3         2.2            1.0
                                                                                                                                                                                                                  (In p
Debt service                                                                           na                  na                5.8              8.8                 8.7        27.9           13.9          16.3
Memorandum items                                                                                                           (Denominations as indicated)
Population (end-year, million)                                                         9.0                8.7                8.6              8.5            8.5              8.4           8.4             8.3
GDP (in millions of leva)4                                                            39.6               45.4              135.7           200.8           298.9            525.6         880.3         1,761.2
GDP per capita (in US dollars)                                                     5,238.1            2,391.3              887.5         1,014.1         1,280.7          1,152.1       1,563.1         1,187.0
Share of industry in GDP (in per cent)                                                 na                 na                39.8            39.0            32.7             30.0          31.0            29.0
Share of agriculture in GDP (in per cent)                                              na                 na                15.4            11.6             9.9             11.5          12.7            14.2
Current account/GDP (in per cent)                                                     -1.6               -8.2               -1.0            -4.2           -10.1             -0.3          -1.5             1.7
External debt - reserves (in US$ million)                                          8,124.0           10,000.0           11,936.5        12,903.5        13,181.2         10,336.6       8,911.6         9,083.6
External debt/GDP (in per cent)                                                       19.5               48.2              160.5           160.4           127.7            116.8          77.4            97.0
External debt/exports of goods and services (in per cent)                             96.9              143.9              296.0           274.7           282.5            218.4         150.6           145.3


1                                                                                            3
    In 2009 general government balance includes expenditures                                     Until 2005, effective interest rate at end-month, based on the average annual
    of about 1.8 per cent to GDP, which were committed outside the 2009                          yield attained at three-month government securities primary auctions.
    Budget Law.                                                                                  Since 1 February 2005, the simple average of the daily values of LEONIA
2
    From April 2001 direct debt to the Bulgarian National Bank (BNB) is excluded                 (Lev Overnight Index Average), for the business days of the preceding month.
                                                                                             4
    from domestic debt to avoid double reporting of IMF credit extended through                  The lev was re-denominated in July 1999. All data have been converted to the
    the BNB.                                                                                     post-July 1999 rate.
1997              1998              1999              2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



           -5.6               4.0               2.3               5.4               4.1               4.5               5.0               6.6               6.4               6.5               6.4               6.2              -4.9
          -10.0               2.6               9.3               4.9               4.6               4.0               6.3               5.3              13.5              16.6              11.9              17.1              -0.3
           -3.9              23.4               4.1              13.3               2.9               6.1               3.1               6.8               6.0               7.5              14.8              14.7               3.9
          -20.9              35.2              20.8              15.4              23.3               8.5              13.9              13.5              35.2              28.1              20.1              37.0             -26.3
           12.8              -4.7              -5.0              16.6              10.0               8.1              10.7              12.7             -17.0              71.9              12.9              12.7             -18.7
           10.9              12.1               9.3              18.6              14.8               5.0              16.4              14.5              -3.1              61.3              16.8              14.5             -30.0
          -13.7              -5.8              -4.3              12.0              -4.8               2.7              11.6              13.5               6.9               6.0               9.6               0.7             -18.3
           13.7              -0.6               2.7              -9.1              -0.1               4.3              -0.2               3.4              -4.4               0.9             -18.3              19.4               na


           -2.3              -5.7              -2.7             -3.4               -0.2              -0.5              -0.4               2.0               0.2               4.1               0.7               0.4               0.1
           -3.9              -7.4              -3.9             -2.7               -3.9               2.9               4.8               3.1               2.0               4.4               4.6               3.3              -3.2
                                  (In per cent of labour force)
           14.5              16.0              17.0             16.4               19.5              16.8              12.5              11.5              10.0               9.8               6.3               3.6               6.8


        1,082.0              22.2               0.7               9.9               7.4               5.9               2.3               6.1               5.0               7.3               8.4              12.3               2.8
          578.6               0.9               6.2              11.4               4.8               3.9               5.6               4.0               6.5               6.5              12.5               7.8               0.6
          901.8              17.1               4.4              17.3               3.6               2.2               2.8               5.4               7.2               8.7               8.0              13.3              -6.1
          472.6               0.5              14.0              14.7              -1.8               5.5               2.5               5.4              12.0               8.6              10.2               0.2               0.9
          815.9              46.5               5.1              25.8              -3.2               7.3               6.1               7.0              10.7              11.3              19.5              26.5               8.5


          -0.3                1.7               0.4              -0.5               1.9               0.1              -0.9               2.2               3.0               3.4               3.3               2.9              -3.9
          33.1               37.0              39.6              39.7              38.3              37.1              38.1              36.7              36.6              35.3              36.7              36.5              37.4
         105.1               79.6              79.3              73.6              66.2              54.0              45.9              40.1              31.3              24.6              19.8              13.5              18.7


         351.4               11.8             13.4               30.8              25.8              11.7              18.8              23.3              24.3              26.9              31.3               8.7               4.3
          89.5               -3.4              3.9               31.0              26.0              27.4              33.9              34.2              33.0              15.3              58.8              33.0               6.8
                                     (In per cent of GDP)
           34.1              29.6             31.7               36.8              41.7              42.8              47.5              52.3              55.5              61.8              69.9              65.9              69.5


            6.7               5.1             4.5                 4.6               4.7               3.3               2.8               2.4               2.1               3.3               3.5               5.8               0.6
            1.6               2.9             2.6                 2.7               5.5               1.2               1.1               2.0               2.1               2.9               4.1               5.3               2.4
            3.0               3.3             3.2                 3.1               2.9               2.8               2.8               3.1               3.1               3.2               3.7               4.4               6.2
           13.9              13.3            12.8                11.5              11.1              11.1               9.2               8.9               8.7               8.9              10.0              10.9              11.3
                                     (Leva per US dollar)
            1.8               1.7             1.9                 2.1               2.2               1.9               1.5               1.4               1.7               1.5               1.3               1.4               1.4
            1.7               1.8             1.8                 2.1               2.2               2.1               1.7               1.6               1.6               1.6               1.4               1.3               1.4


                                   (In millions of US dollars)
        1,046.2              -61.5            -651.7           -703.7            -804.7            -319.0          -1,022.2          -1,671.1          -3,304.6          -5,658.7      -11,957.1         -12,386.8             -4,658.7
          321.0             -380.7          -1,081.0        -1,175.6           -1,580.5          -1,658.5          -2,575.9          -3,687.9          -5,490.8          -7,028.1      -10,572.0         -12,623.5             -5,673.5
        4,809.0            4,193.5           4,006.4         4,824.6            5,112.9           5,354.1           7,081.4           9,931.2          11,776.4          15,101.4       19,469.0          22,484.2             16,502.7
        4,488.0            4,574.2           5,087.4         6,000.2            6,693.4           7,012.6           9,657.3          13,619.1          17,267.2          22,129.5       30,041.0          35,107.7             22,176.2
          506.6              537.2             801.7            998.2             803.3             876.3           2,070.3           2,879.2           4,004.8           7,582.8       12,903.0           9,194.9              4,334.5
        2,121.0            2,679.0           2,900.0         3,460.0            3,591.0           4,407.0           6,291.0           8,776.3           8,519.7          10,941.3       16,487.9          16,815.5             17,127.3
       10,408.5          10,891.9          10,907.3         11,165.0           10,625.6          11,311.7          13,439.1          17,276.3          19,383.6          27,223.9       42,563.4          53,006.8             52,336.5
                         (In months of imports of goods and services)
            4.4                5.4               5.3              5.4               5.0               6.0               6.2               6.2               4.9               5.0               5.6               4.9               7.7
                         (In per cent of exports of goods and services)
           12.8               20.0              18.0             16.7              20.8              17.3              14.9              25.5              46.6              30.2              35.0              33.9              42.9


            8.3               8.2               8.2               8.1               7.9               7.8               7.8               7.8               7.7               7.7               7.6               7.6               7.6
       17,432.6          22,421.1          23,790.4          26,752.8          29,709.2          32,401.6          34,627.5          38,822.6          45,483.8          51,783.1          60,184.6          69,295.0          68,537.2
        1,257.2           1,547.9           1,582.0           1,546.1           1,723.3           1,988.4           2,561.8           3,175.8           3,743.9           4,313.0           5,541.5           6,813.5           6,400.0
           25.0              22.3              25.1              25.8              25.2              24.9              24.9              24.4              26.1               na                na                na                na
           23.4              16.8              14.5              12.3              12.1              10.7              10.0               9.2               8.0               na                na                na                na
           10.0              -0.5              -5.0              -5.6              -5.9              -2.0              -5.1              -6.8             -11.4             -17.0             -28.4             -23.9              -9.6
        8,287.5           8,212.9           8,007.3           7,705.0           7,034.6           6,904.7           7,148.1           8,500.1          10,864.0          16,282.6          26,075.5          36,191.3          35,209.2
           99.9              85.5              84.2              88.6              78.1              72.5              67.2              70.1              67.1              82.0             101.1             102.4             107.6
          148.5             182.1             188.2             159.5             146.0             149.7             133.8             123.8             119.8             133.5             161.8             173.9             224.2
2010



            0.4
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            1.9
            3.2
            na
            na
            na


           -3.8
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



            na
            na
            na
            na
        1,341.4
            na
            na

            na

            na


            na
       70,123.9
            na
            na
            na
           -3.0
            na
            na
            na
Croatia
                                                                   1989                1990                1991            1992             1993      1994         1995 1996
                                                                                                                                                   Estimate   Projection

Output and expenditure                                                                               (Percentage change in real terms)
GDP                                                                -1.6                -7.1            -21.1           -11.7                -8.0        5.9         6.8            5.8
   Private consumption                                              na                  na                na              na                 na         na          na            15.3
   Public consumption                                               na                  na                na              na                 na         na          na            -1.9
   Gross fixed capital formation                                    na                  na                na              na                 na         na          na             na
   Exports of goods and services                                    na                  na                na              na                 na         na          na            14.3
   Imports of goods and services                                    na                  na                na              na                 na         na          na             9.1
Industrial gross output                                            -1.0               -11.0            -28.0           -15.0                -6.0       -3.0         0.2            3.1
Agricultural gross output                                           4.0                -3.0              -7.0          -13.0                 5.0       -3.0         1.0            2.0
Employment1                                                                                                 (Percentage change)
Labour force (end-year)                                             na                  na                na               na                na        -1.0        -1.3             0.9
Employment (end-year)                                               na                 -3.6             -13.7            -12.7              -2.6       -4.2        -3.3            -1.4

Unemployment (end-year)                                             na                  9.3                13.2            13.2            14.8       14.5         14.5           10.0
Prices and wages                                                                                           (Percentage change)
Consumer prices (annual average)                                    na                609.5            123.0           665.5             1,517.5      97.6          2.0            3.5
Consumer prices (end-year)                                          na                136.0            249.8           938.2             1,149.3      -3.0          3.7            3.4
Producer prices (annual average)                                    na                455.3            146.3           825.2             1,512.4      77.6          0.7            1.4
Producer prices (end-year)                                          na                  na             412.3         1,020.9             1,075.6      -5.5          1.6            1.5
Gross average monthly earnings in economy (annual average)          na                  na               na               na                 na        na          34.0           12.3
Government sector2                                                                                           (In per cent of GDP)
General government balance                                          na                   na                 na               -4.2          -0.9        0.6         -0.6           -0.4
General government expenditure                                      na                   na                 na              38.9           37.3       25.3         41.6           38.5
General government debt                                             na                   na                 na                na            na        22.0         16.4           24.8
Monetary sector                                                                                              (Percentage change)
Broad money (M4, end-year)                                          na                   na                 na              na               na       75.7         39.3           49.1
Domestic credit (end-year)                                          na                   na                 na              na               na       10.0         10.9            1.0

Broad money (M4, end-year)                                          na                   na                 na              na             27.5       20.1         21.3           28.9
Interest and exchange rates                                                                          (In per cent per annum, end-year)
Domestic rate                                                       na                   na               na           1,889.4             34.5        8.5          8.5            6.5
Money market interest rate (daily)                                  na                   na               na           2,182.3             86.9       17.8         27.2           10.7
Deposit rate3                                                       na                   na               na             434.5             27.4        5.0          6.1            4.2
Lending rate3                                                       na                   na               na           2,332.9             59.0       15.4         22.3           18.5

Exchange rate (end-year)                                            na                  na                  na              0.8              6.6        5.6         5.3            5.5
Exchange rate (annual average)                                 29,000.0                11.3                24.3             0.3              3.6        6.0         5.2            5.4
External sector

Current account                                                     na                  na            -626.0              326.0            603.4      697.4   -1,431.1           -986.3
Trade balance                                                       na             -1,168.0           -536.0             -303.0           -709.3   -1,278.5   -3,227.6         -3,485.1
   Merchandise exports                                              na              4,020.0          3,292.0            3,127.0          3,910.3    4,402.8    4,517.3          4,680.3
   Merchandise imports                                              na              5,188.0          3,828.0            3,430.0          4,619.6    5,681.3    7,744.9          8,165.5
Foreign direct investment, net                                      na                  na               na                13.0            123.7      107.5      100.7            466.0
Gross reserves, excluding gold (end-year)                           na                  na               0.0              166.8            616.2    1,405.0    1,895.2          2,314.0
External debt stock4                                                0.0                 0.0          2,978.0            2,736.0          2,637.8    3,019.8    3,809.1          5,307.6
                                                                                                                                                                                          (In
Gross reserves, excluding gold (end-year) 5                         na                   na                 na              0.4              1.3        2.4         2.5            2.8
                                                                                                                                                                                          (In
Debt service6                                                       na                   na                12.3             8.9              9.9        9.0        10.1            9.0
Memorandum items                                                                                       (Denominations as indicated)
Population (end-year, million)                                      na                  4.8              4.5              4.5                4.6       4.6         4.7             4.5
GDP (in billions of kuna)                                           na                  0.3              0.4              2.5               36.6      88.2       115.7           127.1
GDP per capita (in US dollars)                                      na              5,193.3          3,691.5         2,126.1             2,202.3   3,163.2     4,738.1         5,202.9
Share of industry in GDP (in per cent)                              na                  na               na               na                 na        na         21.5            20.2
Share of agriculture in GDP (in per cent) 7                         na                  na               na               na                 na        na          8.0             7.8
Current account/GDP (in per cent)8                                  na                  na              -3.8              3.4                5.9       4.7        -6.5            -4.2
External debt - reserves (in US$ million)                           na                  na               0.0         2,569.2             2,021.6   1,614.8     1,913.9         2,993.6
External debt/GDP (in per cent)9                                    na                  na              17.9            28.8                25.8      20.5        17.2            22.7
External debt/exports of goods and services (in per cent)1 0        na                  na              65.2            60.0                42.6      41.6        54.6            66.5


1                                                                         6
    Data based on labour force surveys.                                       Ratio calculated in euros.
2                                                                         7
    Consolidated general government from 2002.                                Agriculture includes hunting, forestry and fishing.
3                                                                         8
    Weighted average over all maturities.                                     Ratio calculated in euros.
4                                                                         9
    Change in reporting methodology from 2007 onwards.                        Ratio calculated in euros.
5                                                                         1
    Ratio calculated in euros.                                            0 Ratio calculated in euros.
1997              1998               1999             2000             2001              2002              2003              2004              2005              2006              2007              2008              2009



           6.8                 2.1             -1.5              3.0               3.8               5.4               5.0               4.2               4.2               4.7               5.5               2.4              -5.8
          12.9                 0.3             -1.5              4.9               4.5               8.3               4.8               4.3               4.4               3.6               6.2               0.8              -8.5
           3.0                 3.9              2.9             -1.6              -5.5               4.9               1.3               2.6               1.2               2.2               3.4               1.9               0.2
           na                  2.5             -3.9             -3.8               7.1              13.9              24.7               5.0               4.9              10.9               6.5               8.2             -11.8
           4.2                 5.8              0.9             12.0               8.8               1.2              11.6               5.4               3.7               6.5               4.3               1.7             -16.2
          24.9                -5.7             -2.5              3.7              10.3              13.3              11.9               4.7               3.9               7.4               6.5               3.6             -20.7
           6.9                 3.6             -1.4              1.7               6.0               5.4               4.1               3.7               5.1               4.5               5.6               1.6              -9.2
           3.0                10.0             -3.0            -10.0               8.5               7.7             -15.9              11.9              -8.7               4.4              -3.9               8.0              -0.8


           3.4                -1.5              -0.7             9.5              -6.7               1.4               0.1              -0.2               0.7               0.7              -0.9              -0.6              -1.8
           3.4                -3.1              -4.2             na               -6.0               3.8               0.1               0.5               2.5               2.8               0.1               0.5              -2.4
                                  (In per cent of labour force)
           9.9                11.4             13.5             15.7              16.4              14.5              14.4              13.8              12.3              10.5               9.7               8.7               9.2


           3.6                 5.7             4.0              4.6                3.8               1.7               1.8               2.1               3.3               3.2               2.9               6.1               2.4
           3.8                 5.4             3.9              5.5                2.4               1.8               1.7               2.7               3.6               2.0               5.8               2.9               1.9
           2.3                -1.2             2.6              9.7                3.6              -0.4               1.9               3.5               3.0               2.9               3.4               8.4              -0.4
           1.6                -2.1             5.9             11.2               -3.1               2.3               1.1               4.8               2.7               1.9               5.9               4.7               1.6
          13.1                12.6            10.2              7.0                3.9               6.0               4.8               6.4               4.4               6.2               6.2               7.1               2.2


          -1.1                -3.0            -8.2             -7.5               -6.8              -4.9              -4.8              -4.0              -3.5              -3.1              -2.5              -1.4              -3.3
          37.8                46.8            48.8             45.5               44.0              42.5              44.3              39.5              42.5               3.1              42.9              40.8              41.8
          27.6                32.2            40.0             39.7               34.8              34.8              35.8              37.8              37.8              35.3              32.7              28.7              34.8


          38.3                13.0              -1.2           28.9               45.2               9.5              11.0               8.6              10.5              18.0              18.3               4.3              -0.9
          15.9                19.1              -1.5            9.3               21.6              28.4              12.3              11.8              19.2              18.9              12.9              12.6              -0.4
                                      (In per cent of GDP)
          34.9                35.7              34.5           41.3               55.6              55.8              56.8              57.0              58.5              63.7              68.7              65.8              67.0


           5.9                 5.9              7.9             5.9                5.9               4.5               4.5               4.5               4.5               4.5               9.0               9.0               9.0
           9.5                15.9            12.8              4.5                2.2               1.9               7.0               6.0               4.0               3.5               5.1               6.1               7.5
           4.4                 4.1              4.3             3.4                2.8               1.6               1.7               1.8               1.6               1.9               2.7               2.8               3.2
          14.1                16.1            13.5             10.5                9.5              10.9              11.5              11.4               9.9               9.1               9.3              10.1              11.6
                                      (Kuna per US dollar)
           6.3                 6.2              7.6              8.2               8.4               7.1               6.1               5.6               6.2               5.6               5.0               5.2               5.1
           6.2                 6.4              7.1              8.3               8.3               7.9               6.7               6.0               5.9               5.8               5.4               4.9               5.3


                                    (In millions of US dollars)
       -2,527.4           -1,472.3           -1,536.0           -532.8          -729.2          -1,925.5          -2,162.3          -1,874.7          -2,555.0       -3,287.1          -4,436.8          -6,249.0          -3,154.0
       -5,376.7           -4,066.6           -3,294.5         -3,196.5        -4,093.0          -5,646.0          -7,904.6          -8,345.8          -9,341.5      -10,486.5         -12,933.4         -15,956.0         -10,279.4
        4,027.5            4,585.4            4,398.8          4,573.7         4,767.0           5,006.2           6,311.4           8,214.5           8,959.8       10,644.4          12,622.7          14,460.0          10,717.7
        9,404.2            8,652.0            7,693.3          7,770.2         8,860.0          10,652.2          14,216.0          16,560.3          18,301.3       21,130.9          25,556.1          30,416.0          20,997.0
          347.8              842.1            1,392.4          1,104.8         1,397.8             552.5           1,927.3             732.3           1,551.0        3,193.7           4,735.8           4,653.1           1,600.0
        2,539.1            2,815.7            3,025.0          3,524.8         4,704.2           5,885.8           8,191.3           8,759.0           8,801.1       11,488.6          13,675.3          12,957.3          14,894.5
        7,451.6           10,739.0           10,216.2        11,426.0         12,003.4          15,771.5          24,850.7          31,209.5          30,464.7       38,544.9          48,859.0          56,757.0          64,295.0
                         (In months of imports of goods and services)
           2.7                  3.2               3.9              4.3             5.3               4.9               5.2               4.8               5.1               5.3               5.2               4.6               6.9
                         (In per cent of exports of goods and services)
          11.1                13.5               22.4             23.0           -29.6             -23.8             -20.2             -24.2             -26.9             -36.8             -44.0             -37.1             -45.0


           4.6                4.5               4.6              4.4               4.4               4.4               4.4               4.4               4.4               4.4               4.4               4.4               4.4
         145.4              160.6             164.1            176.7             190.8             208.2             227.0             245.6             264.4             286.3             314.2             342.2             333.1
       5,165.0            5,608.3           5,065.0          4,822.6           5,151.6           5,957.7           7,625.5           9,167.0          10,003.9          11,045.9          13,214.4          15,636.6          14,241.4
          20.4               19.2              19.4             19.6              19.0              18.3              18.0              18.5              17.9              17.7              17.6              17.5              16.7
           7.3                7.4               7.6              7.0               7.0               6.9               5.7               6.1               5.6               5.4               5.2               5.6               5.9
         -10.7               -5.8              -6.6             -2.5              -3.2              -7.5              -6.3              -4.4              -5.5              -6.9              -7.6              -9.2              -5.2
       4,912.5            7,923.3           7,191.2          7,901.2           7,299.1           9,885.7          16,659.4          22,450.5          21,663.6          27,056.3          35,183.7          43,799.7          49,400.5
          31.6               42.5              47.0             53.0              53.3              53.9              66.3              70.0              72.1              74.9              77.6              85.1              98.3
          92.8              125.6             133.0            130.2             125.9             136.1             151.3             161.0             168.6             172.2             181.2             197.2             265.8
2010



           -1.5
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            0.9
            2.8
            na
            na
            na


           -4.7
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       -5,003.1
       -9,904.3
       15,968.7
       25,873.0
          390.4
            na
            na

            na

            na


           na
         330.9
           na
           na
           na
          -3.8
           na
           na
           na
Czech Republic
                                                                               1989               1990            1991             1992                1993       1994         1995 1996
                                                                                                                                                               Estimate   Projection

Output and expenditure                                                                                         (Percentage change in real terms)
GDP                                                                             1.4               -1.2           -11.6             -0.5                 0.1        2.2          5.9             4.0
   Private consumption                                                          na                 6.7           -21.4              8.8                 1.2        6.9          5.9             8.4
   Public consumption                                                           na                 0.9           -12.3             -6.7                 3.6        0.2         -4.3            -0.9
   Gross fixed capital formation                                                na                -2.1           -27.3            16.5                  0.2        9.1         19.8             9.9
   Exports of goods and services                                                na                 na              -6.0             9.5                15.8        1.7         16.7             5.5
   Imports of goods and services                                                na                 na            -32.8            29.7                 23.7       14.7         21.2            12.1
Industrial gross output                                                         1.7               -3.5           -21.6             -7.9                -5.3        2.1          9.2             2.0
Agricultural gross output                                                       na                 na               na              na                  na         na           na             -0.9
Employment                                                                                                           (Percentage change)
Labour force (end-year)                                                        -0.2               -3.0             0.3             -5.1                 0.4        -1.1         0.8             0.7
Employment (end-year)                                                           0.6               -0.8            -9.2             -2.5                -3.5         1.1         0.7             0.2

Unemployment (end-year)                                                         na                 0.7             4.1              2.6                 4.3        4.3          4.0             3.9
Prices and wages                                                                                                     (Percentage change)
Consumer prices (annual average)                                                1.4                9.7            52.0            11.1                 20.8        9.9          9.6             8.9
Consumer prices (end-year)                                                      na                17.5            56.6            12.7                 18.2        9.7          8.0             8.7
Producer prices (annual average)                                                na                 4.4            70.3            10.0                  9.2        5.3          7.6             4.8
Producer prices (end-year)                                                      na                 na              na              9.3                 11.4        5.6          7.2             4.4
Gross average monthly earnings in economy (annual average)                      na                 3.7            15.4            22.5                 27.1       18.6         18.6            18.3
Government sector1                                                                                                   (In per cent of GDP)
General government balance                                                      na                -0.2            -1.9               -3.1             -27.4       -7.8        -13.4            -3.3
General government expenditure                                                  na                54.5            51.6              49.6               71.2       50.4         54.5            42.6
General government debt                                                         na                 na              na                 na               18.8       17.6         14.4            12.3
Monetary sector                                                                                                      (Percentage change)
Broad money (M2, end-year)                                                      na                 na               na              na                 14.2       20.7         23.7             7.6
Domestic credit (end-year)                                                      na                 na               na              na                  na        14.4         13.7            10.6

Broad money (M2, end-year)                                                      na                 na               na             69.8                65.8       68.5         68.4            64.0
Interest and exchange rates                                                                                    (In per cent per annum, end-year)
2-week repo rate                                                                na                 na               na               na                 na         na          11.3            12.4
3-month PRIBOR                                                                  na                 na               na               na                 8.0       12.7         10.9            12.7
Deposit rate                                                                    na                 na               na               6.3                7.0        7.1          7.0             6.8
Lending rate                                                                    na                 na               na              13.3               14.1       13.1         12.8            12.5

Exchange rate (end-year)2                                                     14.3                28.0            27.8             28.9                29.8       28.2         26.7            27.3
Exchange rate (annual average)2                                               15.1                18.0            29.5             28.3                29.2       28.8         26.5            27.1
External sector

Current account                                                                 na                 na              na              na                 466.3     -819.8    -1,373.8         -4,127.1
Trade balance                                                                   na              -600.0          -500.0        -1,901.6               -517.0   -1,407.7    -3,685.7         -5,705.5
   Merchandise exports                                                          na             5,900.0         8,300.0         8,448.4             14,231.3   15,964.6    21,477.5         21,948.9
   Merchandise imports                                                          na             6,500.0         8,800.0        10,350.0             14,748.3   17,372.3    25,163.2         27,654.4
Foreign direct investment, net                                                  na                 na              na            982.9                564.4      762.0     2,531.0          1,280.3
Gross reserves, excluding gold (end-year)                                       na               200.0           700.0           842.5              3,780.0    6,140.0    13,840.0         12,400.0
External debt stock                                                         5,736.0            5,957.0         6,708.0         7,082.4              8,495.7   10,694.2    17,190.0         21,181.0
                                                                                                                                                                                                      (In
Gross reserves, excluding gold (end-year)                                       na                 na               na               na                 2.5        3.3          5.5             4.4
                                                                                                                                                                                                      (In p
Debt service                                                                    na                 na               na               na                 6.1       11.7          9.3            10.8
Memorandum items                                                                                                 (Denominations as indicated)
Population (end-year, million)                                                 10.3               10.3            10.3            10.3                 10.3       10.3        10.3             10.3
GDP (in billions of korunas)2                                                 759.0              626.2           753.8           842.6              1,020.3    1,182.8     1,466.5          1,683.3
GDP per capita (in US dollars)                                              4,879.3            3,375.9         2,478.3         2,886.2              3,390.4    3,978.5     5,356.9          6,012.6
Share of industry in GDP (in per cent)                                          na                36.7            37.9            39.4                 33.3       33.6        33.3             33.8
Share of agriculture in GDP (in per cent)                                       6.3                8.2             5.6              4.6                 5.3        4.9         4.7              4.9
Current account/GDP (in per cent)                                               na                 na              na               na                  1.3       -2.0        -2.5             -6.7
External debt - reserves (in US$ million)                                       na             5,757.0         6,008.0         6,239.9              4,715.7    4,554.2     3,350.0          8,781.0
External debt/GDP (in per cent)                                                11.4               17.1            26.3            23.8                 24.3       26.0        31.1             34.2
External debt/current account revenues, excluding transfers (in per cent)       na                 na              na               na                 44.8       50.6        61.0             70.3


1                                                                                     2
    Calculated according to Eurostat methodology (ESA95).                                 New currency (Czech koruna) was introduced in February 1993
                                                                                          and replaced the Czechoslovak koruna at par.
1997              1998              1999             2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



           -0.7              -0.8              1.3              3.6                2.5               1.9               3.6               4.5               6.3               6.8               6.1               2.5             -4.3
            2.2              -0.8              2.7              1.3                2.2               2.2               6.0               2.9               2.5               5.2               5.0               3.6             -0.2
            3.0              -1.6              3.7              0.7                3.6               6.7               7.1              -3.5               2.9               1.2               0.7               1.0              4.4
           -5.7              -0.9             -3.3              5.1                6.6               5.1               0.4               3.9               1.8               6.0              10.8             -85.1            505.1
            8.4              10.4              5.4             16.5               11.2               2.1               7.2              20.7              11.6              15.8              15.0               6.0            -10.2
            6.9               8.3              4.9             16.3               12.8               5.0               8.0              17.9               5.0              14.3              14.3               4.7            -10.2
            4.5               1.9             -3.1              1.5                6.7               1.9               5.5               9.6               6.7              11.1               6.8               6.6              na
            0.7              -1.8              1.9             -3.0               -1.6               2.5              -5.5               0.0               8.0              -3.7             -11.0               na               na


            0.1               0.5               0.4              0.2               0.0              -0.1              -0.5               0.3               1.1              -0.1               0.4               na                na
           -0.7              -1.4              -2.1             -0.7              -0.1               0.6              -0.4               0.2               1.5               1.2               2.2               na                na
                                  (In per cent of labour force)
            4.8               6.5               8.7              8.8               8.1               7.3               7.8               8.3               8.0               7.1               5.3               na                na


            8.4              10.6              2.1              4.0                4.7               1.8               0.2               2.8               1.9               2.6               3.0               6.3               7.3
           10.0               6.7              2.6              4.1                4.2               0.6               1.1               2.8               2.2               1.8               5.5               3.7               3.7
            4.9               4.9              1.0              4.9                2.9              -0.5              -0.3               5.7               3.0               1.6               4.1               4.8               na
            5.7               2.2              3.4              5.0                0.8              -0.7               0.9               7.7              -0.3               2.6               5.3               na                na
            9.9               9.2              8.4              6.4                8.7               7.3               6.6               6.6               5.3               6.5               7.3               na                na


           -3.8              -5.0             -3.7             -3.7               -5.7              -6.8              -6.6              -2.9              -3.6              -2.6              -0.7              -2.7              -5.8
           43.2              43.2             42.3             41.8               44.5              46.3              47.3              45.1              45.0              43.7              42.5              42.9              45.1
           12.0              12.6             13.1             18.5               25.1              28.5              30.1              30.4              29.8              29.5              28.9              29.5              35.4


            9.2               5.4              7.7              5.6               13.0             -11.6               7.2               4.5              10.6              13.7              16.3               8.3               na
           10.0              -3.6             -2.0              1.0               -5.3              -7.1              21.9               0.1               1.7              22.0              19.5               na                na
                                     (In per cent of GDP)
           65.0              62.2             64.3             64.5               67.9              57.2              58.7              56.1              58.5              61.6              65.0               na                na


           14.8               9.5           5.3                 5.3                4.8               2.8               2.0               2.5               2.0               2.5               3.5               na                na
           17.5              10.1           5.6                 5.4                4.7               2.6               2.1               2.6               2.2               2.6               4.1               na                na
            7.7               8.1           4.5                 3.4                2.6               1.6               1.2               1.4               1.2               1.3               1.5               na                na
           13.2              12.9           8.7                 7.2                8.7               6.4               6.0               6.2               5.7               5.6               6.1               na                na
                                  (Korunas per US dollar)
           34.7              30.0          35.7                37.8               36.3              30.1              25.7              22.4              24.6              20.9              18.1              19.4              18.4
           31.7              32.3          34.6                38.6               38.0              32.7              28.2              25.7              23.9              22.6              20.3              17.2              17.6


                                   (In millions of US dollars)
       -3,621.5           -1,308.1          -1,464.2        -2,687.9          -3,271.8          -4,263.7          -5,785.3          -5,751.3          -1,577.9          -3,782.0       -5,654.9          -6,641.9          -2,146.0
       -4,938.0           -2,646.9          -1,900.8        -3,093.1          -3,077.0          -2,239.4          -2,519.1            -529.6           2,522.3           2,843.2        5,909.4           6,367.2           9,520.2
       22,316.8          25,884.3          26,240.2         29,003.3          33,394.4          38,469.2          48,701.4          67,238.6          77,973.4          95,147.4      122,697.1         145,749.4         112,628.8
       27,254.8          28,531.2          28,141.0         32,096.4          36,471.4          40,708.6          51,220.5          67,768.2          75,451.1          92,304.2      116,787.7         139,382.2         103,108.6
        1,258.6            3,574.6           6,219.7         4,941.7           5,474.2           8,281.6           1,813.6           3,940.5          11,630.0           4,043.0        8,955.4           8,972.1           1,383.9
        9,800.0          12,600.0          12,894.0         13,139.0          14,464.0          23,709.0          26,955.4          28,448.1          29,555.1          31,454.2       34,905.2          37,000.1          40,350.0
       21,617.0          24,047.0          22,860.6         21,608.3          22,374.0          26,983.4          34,892.8          45,240.7          46,452.8          57,179.7       74,611.1          89,500.0          95,500.0
                         (In months of imports of goods and services)
            3.6                4.4               4.6             4.2               4.1               6.0               5.5               4.4               4.1               3.6               3.2               2.8               4.0
                         (In per cent of exports of goods and services)
           15.9               15.3              12.7             9.6               8.3               6.7               7.6               5.8               7.4               6.0               7.2               na                na


           10.3              10.3             10.2             10.2               10.2              10.2              10.2              10.2              10.2              10.3              10.3              10.3              10.3
        1,811.1           1,996.5          2,080.8          2,189.2            2,352.2           2,464.4           2,577.1           2,814.8           2,983.9           3,222.4           3,535.5           3,688.9           3,714.0
        5,543.1           6,037.8          5,875.7          5,544.6            6,077.4           7,401.0           8,975.0          10,742.4          12,199.9          13,886.6          16,880.2          20,760.5          20,411.7
           35.9              36.9             35.5             36.0               37.5              37.5              38.2              40.0              40.1              41.9              42.0               na                na
            5.0               4.8              3.9              3.9                3.7               3.8               3.4               3.3               3.3               3.0               3.0               na                na
           -6.3              -2.1             -2.4             -4.7               -5.3              -5.7              -6.3              -5.2              -1.3              -2.7              -3.2              -3.1              -1.0
       11,817.0          11,447.0          9,966.6          8,469.3            7,910.0           3,274.4           7,937.4          16,792.6          16,897.7          25,725.5          39,705.9               na                na
           37.8              38.9             38.0             38.1               36.2              35.8              38.2              41.3              37.2              40.9              44.2              41.8              45.3
           73.4              71.7             68.7             60.3               55.3              59.2              61.8              58.8              51.8              52.4              53.3               na                na
2010



       1.7
       na
       na
       na
       na
       na
       na
       na


        na
        na

        na


       1.0
       1.6
       na
       na
       na


        na
        na
        na


        na
        na

        na


        na
        na
        na
        na

        na
        na



        na
        na
        na
        na
        na
        na
        na

        na

        na


        na
        na
        na
        na
        na
       -3.0
        na
        na
        na
Estonia
                                                             1989                1990               1991              1992               1993             1994         1995 1996
                                                                                                                                                       Estimate   Projection

Output and expenditure                                                                          (Percentage change in real terms)
GDP                                                           8.1                 -6.5            -13.6           -14.2                  -8.8             -1.6          2.8            5.7
   Private consumption                                        na                   na                na              na                   na               0.6          1.9           12.3
   Public consumption                                         na                   na                na              na                   na               5.5         24.5           -2.7
   Gross fixed capital formation                              na                   na                na              na                   na               9.2         -9.1           18.2
   Exports of goods and services                              na                   na                na              na                   na               3.5          9.4            0.3
   Imports of goods and services                              na                   na                na              na                   na              12.2          6.9            8.5
Industrial gross output                                       na                   na                na              na                   na              -2.0          0.0           15.2
Agricultural gross output                                     na                   na                na              na                   na              -7.8        -46.2            0.0
Employment                                                                                             (Percentage change)
Labour force (annual average)                                 na                  -0.2              -1.5             -3.4                -5.4              -2.3        -4.0            -2.0
Employment (annual average)                                   na                  -1.4              -2.3             -5.6                -8.2              -3.4        -6.2            -2.2

Unemployment (annual average)                                -0.6                 0.6                1.5                3.7               6.6              7.6          9.7           10.0
Prices and wages                                                                                      (Percentage change)
Consumer prices (annual average)                              6.1                23.1             210.5         1,076.0                  89.8             47.7         29.0           23.1
Consumer prices (end-year)                                    na                 79.0             303.8           953.5                  35.6             41.7         28.9           14.8
Producer prices (annual average)                              na                  na                na               na                  75.2             36.3         25.6           14.8
Producer prices (end-year)                                    na                  na                na               na                   na              32.8         21.8            9.9
Gross average monthly earnings in economy (annual average)    na                  na                na               na                  94.2             62.7         37.0           25.7
Government sector1                                                                                     (In per cent of GDP)
General government balance                                    na                   na                 na                na                 na              1.2         -1.2           -0.4
General government expenditure                                na                   na                 na                na                 na              na          41.3           39.5
General government debt                                       na                   na                 na                na                 na              na           9.0            7.4
Monetary sector                                                                                        (Percentage change)
Broad money (M2, end-year)                                    na                   na                 na              na                   na             30.9         27.8           37.2
Domestic credit (end-year)                                    na                   na                 na              na                   na              na          59.0           92.5

Broad money (M2, end-year)                                    na                   na                 na                na               28.3             27.0         25.0           26.1
Interest and exchange rates                                                                     (In per cent per annum, end-year)
Deposit rate (over 12 months)                                 na                   na                na               na                   na              8.8          8.7           10.5
Lending rate (over 12 months)                                 na                   na                na               na                   na             17.5         15.8           13.9

Exchange rate (end-year)                                      na                   na                 na              12.9               13.9             12.4         11.5           12.4
Exchange rate (annual average)                                na                   na                 na              12.1               13.2             13.0         11.5           12.0
External sector

Current account                                               0.0                 0.0                0.0              35.7               21.6           -166.6      -157.9           -397.9
Trade balance                                                 0.0                 0.0                0.0             -90.1             -144.8           -356.9      -666.2         -1,019.4
   Merchandise exports                                        0.0                 0.0                0.0             457.1              811.7          1,226.2     1,696.7          1,812.6
   Merchandise imports                                        0.0                 0.0                0.0             547.3              956.5          1,583.1     2,362.9          2,832.0
Foreign direct investment, net                                na                  0.0                0.0              80.0              156.0            212.2       199.0            110.6
Gross reserves, excluding gold (end-year)                     0.0                 0.0                0.0               0.0              388.0            511.5       649.5            703.1
External debt stock 2                                         0.0                 0.0                0.0              62.0              228.0            381.0       626.0          1,534.4
                                                                                                                                                                                              (In
Gross reserves, excluding gold (end-year)                     na                   na                 na                na                3.8              3.1          2.7            2.5
                                                                                                                                                                                              (In p
Debt service                                                  na                   na                 na                na                2.1              1.6          1.7            2.7
Memorandum items                                                                                   (Denominations as indicated)
Population (end-year, million)                                na                  na                 na               1.6                1.5               1.5         1.4             1.4
GDP (in billions of kroons)                                   na                  na                 1.8            13.1                22.8              31.3        43.3            56.9
GDP per capita (in US dollars)                                0.0                 0.0                0.0           693.8             1,141.0           1,636.5     2,607.1         3,317.1
Share of industry in gross value added (in per cent)          na                  na                 na               na                28.3              27.2        29.0            27.3
Share of agriculture in gross value added (in per cent)       na                  na                 na               na                 9.5               8.7         4.6             4.3
Current account/GDP (in per cent)                             na                  na                 na               3.3                1.3              -6.9        -4.2            -8.4
External debt - reserves (in US$ million)                     0.0                 0.0                0.0              0.0             -160.0            -130.5       -23.5           831.3
External debt/GDP (in per cent)                               na                  na                 na               5.7               13.2              15.8        16.6            32.5
External debt/exports of goods and services (in per cent)     na                  na                 na               9.4               19.9              21.9        24.3            52.5


1                                                                   2
    According to Eurostat                                               Data from the Bank of Estonia and include non-resident
                                                                        currency and deposits, liabilities to affiliated enterprises and liabilities
                                                                        to direct investors.
1997              1998              1999             2000              2001             2002              2003              2004              2005              2006              2007              2008              2009



          11.7                6.7             -0.3             10.0               7.5              7.9               7.6                7.2               9.4              10.6               6.9              -5.1             -13.9
          11.9                5.1              0.8              7.9               7.1             10.3               8.7                9.5               9.8              13.7               8.6              -5.4             -18.4
          -1.7                2.2             -0.2             -2.2               2.6              2.6               0.8                2.0              -0.2               3.9               3.9               3.8               0.0
          23.6               21.4            -15.5             16.9               9.7             24.0              18.6                5.2              15.4              23.2               6.0             -15.0             -33.0
          26.4               13.4              0.4             27.4               0.4             -1.0               7.4               14.6              18.6               6.7               1.5               0.4             -18.7
          28.6               12.5             -5.9             27.2               3.5              6.2              10.1               14.4              17.5              13.3               7.8              -7.0             -32.6
          11.3                5.0             -5.3             17.8               8.7              7.7               8.4                8.9              12.5              13.1               6.5              -5.5             -24.3
          16.5               30.2             -9.6             18.5              -5.2             12.2               4.2               -9.3              -3.7              -3.2               2.0               1.9               5.1


           3.8               -1.5              -1.9              0.4             -0.2              -1.2              1.2               -0.2               0.1               4.1               0.1               1.1              -0.6
           4.0               -1.7              -4.5             -1.2              0.9               1.4              1.5                0.2               2.0               6.4               1.4               0.2              -9.2
                                  (In per cent of labour force)
           9.6                9.8              12.2             13.6            12.6              10.3              10.0                9.6               7.9               5.9               4.7               5.5              13.8


          11.2                8.1              3.3              4.0              5.8               3.6               1.3                3.0               4.1               4.4               6.6              10.4              -0.1
          12.5                4.2              3.8              5.0              4.2               2.7               1.1                5.0               3.6               5.1               9.6               7.0              -1.7
           8.8                4.2             -1.2              4.9              4.4               0.4               0.2                2.9               2.1               4.5               8.3               7.1              -0.5
           7.7                0.1              2.2              6.0              1.7               1.4               0.3                3.9               2.2               5.9               8.7               5.2              -1.8
          19.7               15.4              7.7             10.4             12.3              11.5               9.4                8.4              10.8              16.5              20.5              13.9              -5.0


           1.9               -0.3             -3.7             -0.6              0.3               0.3               1.7                1.6               1.6               2.3               2.6              -2.8              -1.7
          37.4               39.2             40.1             36.1             34.8              35.8              34.8               34.0              33.6              33.6              34.3              39.8              44.9
           6.4                5.6              6.0              4.7              4.7               5.7               5.6                5.0               4.6               4.4               3.7               4.6               7.2


          37.8                4.2             23.5             24.7             23.8              11.3               9.9               16.6              42.4              27.6              14.1               6.2               0.8
          78.3               16.5              9.6             36.1             22.7              28.3              26.5               30.0              32.5              40.7              32.6               7.9              -4.9
                                     (In per cent of GDP)
          29.2               27.1             31.4             34.1             37.3              37.2              36.5               38.3              47.2              50.3              48.6              50.7              59.4


          10.8                8.9           8.9                 6.8              4.5               3.7               2.4                2.1               3.0               4.1               5.6               6.0               5.2
          11.2               16.3           8.6                 8.9             10.1               6.6               5.1                6.2               9.2               7.7               9.7              11.1              14.1
                                  (Kroons per US dollar)
          14.3               13.4          15.6                16.7             17.6              14.9              12.4               11.5              12.5              11.9              10.6              11.1              10.9
          13.9               14.1          14.7                17.0             17.5              16.6              13.9               12.6              12.4              12.5              11.4              10.7              11.3


                                   (In millions of US dollars)
         -563.1             -478.4           -247.0            -298.6          -324.7            -779.0          -1,116.3          -1,369.5          -1,386.8          -2,585.2          -3,720.0          -2,339.8             893.1
       -1,125.0           -1,115.2           -821.7            -780.8          -774.5          -1,117.4          -1,556.7          -1,947.7          -1,920.4          -2,906.3          -3,740.5          -3,127.9            -778.0
        2,292.4            2,690.3          2,515.4          3,295.4          3,366.9           3,505.9           4,595.8           5,929.5           7,879.1           9,771.3          11,163.9          12,571.0           9,125.0
        3,417.4            3,805.5          3,337.1          4,076.2          4,141.4           4,623.3           6,152.5           7,877.2           9,799.5          12,677.6          14,904.4          15,698.9           9,903.0
          129.9              574.4            222.3             323.6           342.4             152.6             762.7             697.8           2,255.1             675.6             986.3             614.9             181.6
          820.6              876.4            943.8             920.6           820.2           1,000.4           1,373.4           1,792.5           1,945.1           2,855.9           3,330.0           3,913.0           4,000.0
        2,562.2            2,924.2          2,879.2          3,007.0          3,278.7           4,703.8           7,064.7          10,173.6          11,446.7          17,045.8          25,519.0          26,826.8          25,041.9
                         (In months of imports of goods and services)
           2.4                 2.2               2.7              2.2             1.9              2.1               2.2                2.2               1.9               2.3               2.2               2.5               3.9
                         (In per cent of exports of goods and services)
           4.4                 7.7             12.5               9.0           11.8              33.8              31.9               37.1              37.6              46.0              56.4              66.7            117.1


           1.4                1.4              1.4              1.4               1.4              1.4               1.4                1.4               1.3               1.3               1.3               1.3               1.3
          70.1               78.7             83.8             96.4             109.1            121.7             136.4              151.5             175.0             209.5             247.6             252.0             216.9
       3,592.7            4,015.7          4,141.5          4,137.0           4,564.2          5,381.0           7,258.5            8,903.8          10,495.7          12,490.9          16,135.4          16,476.3          13,461.6
          27.0               25.8             24.2             24.6              25.1             25.2              25.4               24.7              25.3              26.1              26.4              25.9              22.8
           4.1                4.9              3.7              4.0               3.9              3.5               3.3                3.3               3.0               2.6               2.7               2.3               2.0
         -11.1               -8.6             -4.3             -5.3              -5.2            -10.6             -11.3              -11.4              -9.8             -15.4             -17.2              -9.9               4.6
       1,741.6            2,047.8          1,935.4          2,086.4           2,458.5          3,703.4           5,691.3            8,381.1           9,501.6          14,189.9          22,189.0          22,913.8          21,041.9
          50.7               52.3             50.4             53.0              52.6             64.2              71.8               84.6              80.9             101.5             117.8             113.8             130.0
          70.9               70.1             71.9             62.9              65.9             90.3             103.6              115.9             102.9             127.3             164.1             151.3             185.0
2010



            2.4
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            2.8
            3.2
            na
            na
            na


           -1.5
            na
            na


            na
            na

            na


            na
            na

            na
            na



          780.9
         -700.0
       10,600.0
       11,300.0
          200.0
            na
            na

            na

            na


           na
         228.3
           na
           na
           na
           4.0
           na
           na
           na
FYR Macedonia
                                                                1989      1990      1991             1992               1993      1994         1995 1996
                                                                                                                               Estimate   Projection

Output and expenditure                                                           (Percentage change in real terms)
GDP                                                              0.9      -9.9       -6.2            -6.6               -7.5       -1.8        -1.1            1.2
Industrial gross output                                          4.6     -10.6     -17.8           -16.0               -14.3       -9.7        -8.9            5.0
Agricultural gross output                                        4.5     -10.2      17.6              0.4              -20.4        7.8         2.3           -2.9
Employment                                                                             (Percentage change)
Labour force (end-year)                                          1.3       1.3       1.3             -3.6               -2.4       -2.4        -1.5           -6.1
Employment (end-year)                                            0.3      -1.8      -7.7             -4.8               -5.6       -6.0        -9.9          -13.8

Unemployment (end-year)                                        18.0      18.5       19.2             27.8              27.7       30.0         35.6          31.9
Prices and wages                                                                       (Percentage change)
Consumer prices (annual average)                             1,246.0    608.4      114.9         1,664.4              338.4      126.5         16.4            2.3
Consumer prices (end-year)                                   2,763.0    120.5      229.7         1,935.0              241.8       55.0          9.0           -0.7
Producer prices (annual average)                             1,357.4    393.8      112.0         2,198.2              258.3       84.6          3.9           -0.3
Producer prices (end-year)                                   2,857.8     41.8      281.5         2,149.3              177.8       28.5          2.2           -0.6
Gross average monthly earnings in economy (annual average)       na       na         na               na                na         na           na             na
Government sector                                                                      (In per cent of GDP)
General government balance                                       na        na       -4.5               -9.8            -13.4      -2.7         -1.0          -1.4
General government expenditure                                   na        na       49.9              49.1              53.6      45.8         39.0          37.1
General government debt                                          na        na        na                 na               na        na           na            na
Monetary sector                                                                        (Percentage change)
Broad money (M2, end-year)                                       na        na         na              na                 na        na           na            -1.1
Domestic credit (end-year)                                       na        na         na              na                 na       31.2        -48.8          -11.5

Broad money (M2, end-year)                                       na        na         na               na                na         na         11.0          10.5
Interest and exchange rates                                                      (In per cent per annum, end-year)
Basic rate of the National Bank                                  na        na         na             719.0            848.0       66.0         16.0          11.0
Interbank interest rate                                          na        na         na               na               na         na          35.7          22.5
Deposit rate                                                     na        na         na             435.0            322.0      117.6         24.1          12.8
Lending rate                                                     na        na         na           1,100.0            367.0      159.8         46.0          21.6

Exchange rate (end-year)                                         na      11.3       19.7          1,235.6              44.5       40.6         38.0          41.4
Exchange rate (annual average)                                   na      11.3       19.7            509.1              23.6       43.3         37.9          40.0
External sector

Current account                                                  na     -409.0    -259.0            -19.0              -82.5    -262.9      -298.9          -339.9
Trade balance                                                    na     -418.0    -225.0             -7.0               42.8    -184.9      -222.8          -314.7
   Merchandise exports                                           na    1,113.0   1,150.0          1,199.0            1,055.3   1,086.4     1,204.1         1,147.4
   Merchandise imports                                           na    1,531.0   1,375.0          1,206.0            1,012.5   1,271.3     1,426.8         1,462.1
Foreign direct investment, net                                   na        0.0       0.0              0.0                0.0      24.0         9.5            11.2
Gross reserves, excluding gold (end-year)                        na        na        na              52.7              120.0     170.0       280.0           280.0
External debt stock                                              na        na      690.0            758.0              818.0     844.0     1,062.0         1,118.0
                                                                                                                                                                     (In
Gross reserves, excluding gold (end-year)                        na        na         na              0.5                1.5       1.6          2.4            2.3
                                                                                                                                                                     (In p
Debt service                                                     na        na         na               na                na         na          3.2            6.1
Memorandum items                                                                   (Denominations as indicated)
Population (end-year, million)                                   1.9       1.9       1.9              1.9                1.9       2.0         2.0             2.0
GDP (in billions of denars)                                      na       50.6      92.0         1,179.4                59.2     146.4       169.5           176.4
GDP per capita (in US dollars)                                   na    2,341.0   2,431.3         1,198.8             1,292.5   1,733.8     2,279.1         2,232.1
Share of industry in GDP (in per cent)                           na       32.3      29.5            27.1                25.6      24.3        19.6            19.5
Share of agriculture in GDP (in per cent)                        na        6.7       8.7              9.4                8.2       9.1        10.6            10.7
Current account/GDP (in per cent)                                na       -9.2      -5.5            -0.8                -3.3      -7.8        -6.7            -7.7
External debt - reserves (in US$ million)                        na        na        na            705.3               698.0     674.0       782.0           838.0
External debt/GDP (in per cent)                                  na        na       14.8            32.7                32.6      24.9        23.7            25.3
External debt/exports of goods and services (in per cent)        na        na       57.5            60.2                71.8      67.1        76.5            85.9
1997             1998              1999             2000              2001             2002             2003             2004              2005              2006              2007              2008              2009



           1.4               3.4              4.3              4.5              -4.5              0.9              2.8               4.1              4.1               4.0                5.9              4.8               -0.8
          -2.8               1.4              1.7              3.5              -3.1             -0.8              6.6              -2.1              7.0               3.6                3.7              5.5               -7.7
           0.0               3.3              0.9              1.0             -10.8             -2.0              4.8               6.2              0.2               4.6               -2.0              3.5                na


           1.4              -0.2              12.7              1.8              6.3             -4.4              4.4              -3.3              4.4               2.6                1.7              1.4               1.0
          -4.7               5.4               1.0              0.8              9.0             -6.3             -2.8              -4.1              4.3               4.6                3.5              3.2               3.4
                                 (In per cent of labour force)
         36.0               34.5              32.4             32.2            30.9             31.9             36.7              37.2              37.3              36.0              34.9              33.8              32.2


           2.6              -0.1             -0.7              5.8               5.5              1.8              1.2              -0.4              0.5               3.2                2.3              8.3              -0.8
           2.7              -2.4              2.4              6.1               3.7              1.1              2.6              -1.9              1.2               2.9                6.1              4.1              -1.6
           4.2               4.0             -0.1              8.9               2.0             -0.9             -0.3               0.9              3.2               4.5                2.5             10.3              -6.4
           8.6              -0.2              4.2              7.9              -2.5              1.1             -0.2               1.3              4.0               3.2                4.2             -1.8               3.2
           na                na               na               na               -0.4              6.4              4.9               4.1              2.7               8.0                4.8              8.7              14.1


         -0.4               -1.7              0.0              2.5             -6.3             -5.7             -0.6               0.4               0.3              -0.5               0.6              -1.0              -2.6
         35.1               35.0             35.4             33.7             40.3             40.5             34.5              33.2              34.9              34.0              33.1              35.2              33.7
         47.9               52.0             57.4             47.9             48.8             42.9             39.0              36.6              39.5              32.9              24.7              21.3              23.7


         22.9               14.4             29.7             24.4             73.4             -10.1            18.1              17.1              15.5              24.8              28.1               7.1               4.0
          6.8              -31.7             12.8            -21.1             -4.2              24.5             7.0              27.5               3.7              27.4              67.1              39.4               0.3
                                    (In per cent of GDP)
         12.2               13.3             16.1             17.7             31.1             26.8             30.7              34.1              36.5              41.9              47.1              44.9              45.0


          8.9                8.9           8.9                 8.9             10.7             10.7              7.0               6.5               6.5               6.5                6.5              6.5               6.5
         21.1               18.1          11.6                 7.2             11.9             15.2              6.2              10.0               8.5               5.7                4.8              7.0               8.5
         11.6               11.7          11.3                10.7             10.0              9.2              6.7               6.5               5.6               4.4                5.3              5.7               7.5
         21.4               21.0          20.0                19.0             19.2             17.7             14.5              12.0              12.1              10.7                9.9              9.7              10.3
                                 (Denars per US dollar)
         55.4               51.8          60.3                65.3             69.2             58.6             49.1              45.1              51.7              46.5              41.7              43.7              42.4
         49.8               54.5          56.9                65.9             68.1             64.8             54.3              49.4              49.3              48.8              44.7              41.9              44.1


                                  (In millions of US dollars)
        -286.1             -269.7            -32.4            -103.1          -235.4           -378.8           -185.5            -451.6            -159.3             -28.6            -605.8          -1,220.1            -645.7
        -386.1             -515.1           -495.8            -690.8          -526.7           -805.6           -851.0          -1,139.0          -1,063.0          -1,260.5          -1,638.5          -2,572.5          -2,156.9
       1,236.8            1,291.5          1,190.0          1,320.7          1,155.4          1,112.2          1,362.7           1,674.9           2,040.6           2,410.7           3,391.5           3,970.9           2,685.5
       1,622.9            1,806.6          1,685.8          2,011.6          1,682.2          1,917.7          2,213.7           2,813.8           3,103.6           3,671.2           5,030.0           6,543.4           4,842.3
          30.0              127.7             32.4             215.7           446.3            105.5            117.5             321.9              94.2             424.0             700.2             600.5             234.8
         260.0              320.0            450.0             700.0           745.2            722.0            897.7             905.0           1,228.5           1,750.6           2,082.3           1,920.3           2,290.5
       1,139.0            1,437.0          1,490.0          1,489.0          1,506.0          1,640.6          1,840.5           2,816.9           2,970.6           3,284.4           4,160.8           4,678.3           5,505.0
                        (In months of imports of goods and services)
           1.9                2.0               2.7              na              na               na               na                na                na                na                na                na                na
                        (In per cent of exports of goods and services)
           8.7               10.1             10.7               na              na               na               na                na                na                na                na                na                na


           2.0               2.0              2.0              2.0               2.0              2.0              2.0              2.0               2.0               2.0               2.0               2.1               2.1
         186.0             195.0            209.0            236.4             233.8            244.0            251.5            265.3             286.6             310.9             354.3             398.5             413.4
       1,883.3           1,796.4          1,835.0          1,784.9           1,703.2          1,862.5          2,285.6          2,645.2           2,854.0           3,119.4           3,868.1           4,632.2           4,542.6
          19.9              19.0             18.4             18.1              17.5             19.7             20.8             19.5              19.6              20.2              21.9              22.3              22.6
          10.9              11.4             11.0             10.0               9.8             10.1             11.4             11.3              10.8              10.8               9.4               9.4               9.8
          -7.7              -7.5             -0.9             -2.9              -6.9            -10.1             -4.0             -8.4              -2.7              -0.4              -7.6             -12.8              -6.9
         879.0           1,117.0          1,040.0            789.0             760.8            918.5            942.8          1,911.9           1,742.1           1,533.8           2,078.6           2,758.0           3,214.5
          30.5              40.1             40.6             41.5              43.9             43.6             39.7             52.4              51.1              51.5              52.5              49.1              58.8
          83.4              99.7            101.9              na                na               na               na               na                na                na                na                na                na
2010



         0.8
         na
         na


         na
         na

         na


         1.4
         2.5
         na
         na
         na


        -2.5
         na
         na


         na
         na

         na


         na
         na
         na
         na

         na
         na



         na
         na
         na
         na
       240.7
         na
         na

         na

         na


         na
         na
         na
         na
         na
        -3.9
         na
         na
         na
Georgia
                                                                                    1989                 1990             1991             1992              1993               1994         1995 1996
                                                                                                                                                                             Estimate   Projection

Output and expenditure                                                                                                (Percentage change in real terms)
GDP                                                                                 -4.8                -12.4           -20.6           -44.8               -25.4              -11.4          2.4          10.5
   Private consumption                                                               na                   na               na              na                 na                 na           na            na
   Public consumption                                                                na                   na               na              na                 na                 na           na            na
   Gross fixed capital formation                                                     na                   na               na              na                 na                 na           na            na
   Exports of goods and services                                                     na                   na               na              na                 na                 na           na            na
   Imports of goods and services                                                     na                   na               na              na                 na                 na           na            na
Industrial gross output                                                             -6.9                -29.9           -24.4           -43.3               -21.0              -40.0        -10.0           7.7
Agricultural gross output                                                            na                   na            -10.1           -34.2               -42.0               11.6         19.9           5.1
Employment1                                                                                                                  (Percentage change)
Labour force (end-year)                                                              na                      2.3          -8.7            -16.9              -6.0                -8.0         9.9            5.0
Employment (end-year)                                                                na                      2.3          -6.2            -21.2              -9.7                -2.4        -1.1            0.6

Unemployment (end-year)                                                              0.0                     0.0           0.1              5.4               9.1                3.6          3.1            2.8
Prices and wages                                                                                                            (Percentage change)
Consumer prices (annual average)                                                     na                      3.3         79.0           887.4             3,125.4        15,606.5          162.7           39.4
Consumer prices (end-year)                                                           0.9                     4.8        131.0         1,176.9             7,487.9         6,473.9           57.4           13.7
Producer prices (annual average)                                                     na                      na           na               na               649.7           211.6           36.8           32.4
Producer prices (end-year)                                                           na                      na           na               na                 na              na             na             na
Gross average monthly earnings in economy (annual average)                           na                      na           na               na             1,300.0        22,042.9          122.6          110.1
Government sector2                                                                                                           (In per cent of GDP)
General government balance                                                           na                      na           -3.0             -25.4            -26.2                -7.4        -5.3          -7.3
General government expenditure                                                       na                      na            na                 na              na                  na         12.3          21.1
General government debt                                                              na                      na            na                 na              na                  na          na            na
Monetary sector                                                                                                             (Percentage change)
Broad money (M3, end-year)                                                           na                      na            na              na                 na                  na       138.7           41.4
Domestic credit (end-year)                                                           na                      na            na              na                 na                  na        51.7           66.9

Broad money (M3, end-year)                                                           na                      na            na                na               na                 5.6          5.0            6.7
Interest and exchange rates                                                                                           (In per cent per annum, end-year)
Money market rate                                                                    na                      na            na               na                na                  na          na           43.4
Treasury bill rate (3-month maturity)3                                               na                      na            na               na                na                  na          na           43.4
Deposit rate (3-month)4                                                              na                      na            na               na                na                  na         17.9          31.1
Lending rate (3-month)                                                               na                      na            na               na                na                  na         69.8          58.2

Exchange rate (end-year)5                                                            na                      na           na                na                0.1                1.3          1.2            1.3
Exchange rate (annual average)5                                                      6.2                     5.9         33.7             226.2               0.0                1.1          1.3            1.3
External sector

Current account                                                                      na                      na            na            -247.7            -353.9             -277.9      -215.7          -275.0
Trade balance                                                                        na                      na            na            -377.9            -448.3             -365.0      -337.5          -350.9
   Merchandise exports                                                               na                      na            na             266.6             457.0              380.7       362.6           417.0
   Merchandise imports                                                               na                      na            na             644.5             905.3              745.7       700.1           767.9
Foreign direct investment, net                                                       na                      na            na               na                0.0                8.0         6.0            54.4
Gross reserves, excluding gold (end-year)                                            na                      na            na               0.7               1.0               41.4       156.7           158.0
External debt stock                                                                  0.0                     0.0           0.0             94.8             596.9            1,003.9     1,216.7         1,357.4
                                                                                                                                                                                                                           (In
Gross reserves, excluding gold (end-year)                                            na                      na            na                na               0.0                0.6          2.3            2.2
                                                                                                                                                                                                                   (In per cent
Debt service                                                                         na                      na            na                na               0.0                0.0          7.2            9.2
Memorandum items                                                                                                        (Denominations as indicated)
Population (end-year, million)                                                       5.4                 5.4              5.4              5.4               5.4                 5.4         5.4             5.4
GDP (in millions of laris)                                                      15,700.0            16,200.0         20,800.0      167,200.0                16.4             1,373.2     3,694.0         3,847.0
GDP per capita (in US dollars)                                                     465.9               511.5            114.2           136.6              163.0               231.9       534.6           563.0
Share of industry in GDP (in per cent)                                               na                  na               na               na                na                  na          na             20.3
Share of agriculture in GDP (in per cent)                                            na                  na               na               na                na                  na          na             33.2
Current account/GDP (in per cent)                                                    na                  na               na            -33.5              -40.2               -22.3        -7.5            -9.1
External debt - reserves (in US$ million)                                            na                  na               na             94.1              595.9               962.5     1,060.0         1,199.4
External debt/GDP (in per cent)                                                      0.0                 0.0              0.0            12.8               67.8                80.4        42.4            44.8
External debt/exports of goods and services (in per cent)                            na                  na               na               na              112.7               208.0       251.2           265.7


1                                                                                          4
    Figures consistent with ILO methodology.                                                   Data refer to average rates for local currency from international financial
2
    General government includes the state, municipalities and extra-budgetary                  statistics.
                                                                                           5
    funds.                                                                                     In April 1993 was introduced the temporary monetary unit, coupon, at a rate
3
    Data relate to the average auction rates during the year.                                  of 1:1 with the Rouble. Lari was introduced as an official legal tender
                                                                                               in October 1995.
1997             1998             1999             2000              2001             2002             2003             2004             2005              2006              2007              2008              2009



         10.6               2.9              3.0               1.9              4.7              5.5            11.1              5.9                9.6               9.4              12.4               2.1              -4.5
          na                na               na                na               na               3.4             3.2              7.6                0.1              29.1               9.8               na                na
          na                na               na                na               na               5.7             4.1             64.2               27.2              -3.6               7.8               na                na
          na                na               na                na               na              -5.2            20.9              9.0               12.0              -0.4              14.8               na                na
          na                na               na                na               na               na              na               na                 na                na                na                na                na
          na                na               na                na               na               na              na               na                 na                na                na                na                na
          4.3              -1.8              3.7               5.3             -4.5              7.8            14.0             12.2               13.0              16.2              15.0               na                na
          3.9              -6.6              6.9             -12.0              8.2             -1.4            10.3             -7.9               12.0              -9.6               6.0              -2.1               na


         13.5             -18.3             -1.7              5.7               3.1             -0.4             -2.5             -0.5              -0.8              -0.1              -2.8              -2.4               na
         28.3             -22.6             -2.0              8.4               2.2             -2.1             -1.3             -1.7              -2.2               0.2              -2.5              -6.0               na
                               (In per cent of labour force)
           7.5            12.4              12.6             10.3             11.1             12.6             11.5             12.6               13.8              13.6              13.3              16.5               na


          7.1              3.6             19.2                4.1             4.6              5.7              4.9              5.7                8.4               9.2               9.3              10.0               1.7
          7.3             10.7             11.0                4.6             3.4              5.6              7.0              7.5                6.4               8.8              11.0              10.0               3.0
         29.0              2.3             15.7                5.8             3.6              6.0              2.3              3.8                7.2               9.6              10.2              12.0               na
          na               3.7             15.7                2.4             8.9              1.5              5.4              0.7                8.2              10.9              16.9               1.4               na
         46.6             30.4             21.8                7.1            30.8             20.5             10.4             24.5               30.2              36.1              29.5              40.3               na


         -6.7             -5.4             -6.7              -4.0             -1.9             -2.0             -2.5              2.3               -1.5              -3.0              -4.2              -6.4              -9.4
         21.0             19.1             22.1              19.1             18.2             17.8             18.7             19.4               24.9              29.2              33.5              37.1              29.8
          na              58.2             77.0              69.7             68.3             67.4             61.5             47.0               36.6              28.9              22.9               na                na


         44.0             -1.1              21.0             39.4             18.5             17.1             22.7             42.6               26.4              39.3              50.3              14.0              18.0
         77.4             39.4              40.1             17.5              2.3              9.5             14.7              7.4               39.8              34.5              28.8              34.0              -5.8
                                   (In per cent of GDP)
           8.0              6.4              7.9             10.3             11.1             11.6             12.4             15.2               16.4              19.3              23.5              23.9              30.0


         26.6             43.3              34.6             18.2             17.5             27.7             16.9             11.9                7.7               9.5               7.8               na                na
         26.6             43.3                na             26.0             29.9             43.4             44.3             19.2                na                na                na                na                na
         13.7             17.0              14.6             12.0              7.8              9.8              9.3              7.2                7.6              11.4               9.5              10.4               na
         50.6             46.0              33.4             32.8             27.0             31.8             32.3             31.2               21.6              18.8              20.4              21.2               na
                                   (Laris per US dollar)
           1.3              1.7              1.9               2.0              2.1              2.1              2.1              1.8               1.8               1.7               1.6               1.7               1.7
           1.3              1.4              2.0               2.0              2.1              2.2              2.1              1.9               1.8               1.8               1.7               1.5               1.7


                                  (In millions of US dollars)
        -374.9            -370.4            -217.0            -136.0        -210.0            -196.0           -294.0           -430.0            -628.0          -1,069.0          -2,005.8          -2,904.6          -1,720.7
        -558.9            -685.4            -536.0            -398.0        -486.0            -439.0           -598.0           -719.0          -1,214.0          -2,019.0          -2,895.7          -3,894.4          -2,669.6
         493.5             478.3             477.0             584.0         473.0             553.0            730.0          1,272.0           1,472.0           1,667.0           2,088.3           2,420.3           1,933.9
       1,052.4           1,163.7           1,013.0             982.0         959.0             992.0          1,328.0          1,991.0           2,686.0           3,686.0           4,984.0           6,314.8           4,603.5
         236.3             221.0              62.0             153.0          80.0             122.0            335.0            420.0             529.0           1,115.0           1,740.1           1,561.1             887.1
         173.3             118.4             132.4             109.4         161.1             197.7            190.9            383.0             473.9             881.0           1,361.0           1,480.0           1,708.0
       1,507.7           1,636.0           1,722.0          1,582.0        1,712.0           1,858.0          1,954.0          2,039.0           2,137.0           2,000.0           3,136.0           4,555.2           3,751.4
                        (In months of imports of goods and services)
           1.5               1.0                1.3              0.9           1.4               1.6              1.3              1.8               1.8               2.5               2.9               2.6               3.7
               (In per cent of current account revenues, excluding transfers)
           6.0              17.3              20.4              16.7          19.3               7.4            10.0             10.2                5.6              10.5               9.0              14.4              20.6


           5.4              5.4              5.4               4.6              4.6              4.6              4.6              4.5               4.5               4.5               4.4               4.4               4.4
       4,679.0          5,741.0          5,665.0           6,043.0          6,674.0          7,456.0          8,565.0          9,969.8          11,621.0          13,789.9          16,998.6          19,069.6          17,925.4
         657.0            771.5            524.0             658.0            697.0            741.0            877.0          1,155.9           1,419.5           1,722.2           2,312.7           2,908.1           2,429.0
          13.3             12.3             13.0              17.3             16.6             17.6             17.7             16.1              15.7              14.9              14.2              13.5               na
          29.0             26.7             24.7              20.2             20.7             19.3             19.3             16.4              14.8              11.3               9.2               8.9               na
         -10.6             -8.9             -7.7              -4.4             -6.5             -5.8             -7.4             -8.3              -9.8             -13.7             -19.7             -22.7             -16.1
       1,334.4          1,517.6          1,589.6           1,472.6          1,550.9          1,660.3          1,763.1          1,656.0           1,663.1           1,119.0           1,775.0           3,075.2           2,043.4
          42.8             39.4             61.1              51.7             53.2             54.7             49.0             39.2              33.3              25.7              30.8              35.6              35.1
         228.0            227.1            232.5             143.8            175.6            167.2            151.7            111.4             106.9              77.8             106.0             127.9             123.7
2010



       2.0
       na
       na
       na
       na
       na
       na
       na


       na
       na

       na


       4.8
       3.0
       na
       na
       na


       na
       na
       na


       na
       na

       na


       na
       na
       na
       na

       na
       na



       na
       na
       na
       na
       na
       na
       na

       na

       na


       na
       na
       na
       na
       na
       na
       na
       na
       na
Hungary
                                                                                  1989               1990             1991             1992                1993       1994         1995 1996
                                                                                                                                                                   Estimate   Projection
                            1
Output and expenditure                                                                                             (Percentage change in real terms)
GDP                                                                                0.7                -3.5           -11.9             -3.1                -0.6        2.9          1.5             1.3
   Private consumption                                                             na                 -3.6             -2.7             0.0                 1.9        0.2         -7.1            -3.8
   Public consumption                                                              na                  2.6             -2.7             4.9                27.5       -7.4         -6.7            -2.4
   Gross fixed capital formation                                                   na                 -7.1           -10.4             -2.6                 2.0       12.5         -4.3             6.8
   Exports of goods and services                                                   na                 -5.3           -13.9              2.7               -10.3       13.6         48.2            12.0
   Imports of goods and services                                                   na                 -4.3             -6.1             0.7                20.0        8.8         22.3             9.4
Industrial gross output                                                            na                  na               na              na                  na         na           na              na
Agricultural gross output                                                          na                  na               na             -6.5                -7.9       -0.4          2.7             4.1
Employment                                                                                                               (Percentage change)
Labour force (annual average)                                                     -0.5                 4.7           -10.1             -3.3                -9.0        -3.3        -2.6            -1.2
Employment (annual average)2                                                      -0.7                -3.3           -10.3             -4.4               -11.7        -2.0        -1.9            -0.8

Unemployment (end-year)                                                            0.5                1.4              8.2              9.3                11.9       10.7         10.2             9.9
Prices and wages                                                                                                         (Percentage change)
Consumer prices (annual average)                                                  17.0               28.9             35.0            23.0                 22.5       18.8         28.2            23.6
Consumer prices (end-year)                                                        18.1               33.4             32.2            21.6                 21.1       21.2         28.3            19.8
Producer prices (annual average)                                                  15.4               22.0             32.6            12.3                 10.8       11.3         28.9            21.8
Producer prices (end-year)                                                         na                39.3             23.5            13.7                  9.5       14.8         30.2            20.1
Gross average monthly earnings in economy (annual average)                         na                27.2             33.4            24.3                 21.9       22.6         16.8            20.4
Government sector3                                                                                                       (In per cent of GDP)
General government balance4                                                        na                 0.0             -2.9               -6.1              -6.0       -7.5         -6.6            -4.6
General government expenditure                                                     na                56.6             56.4              60.2               60.2       59.5         51.3            51.0
General government debt                                                            na                 na              74.6              79.0               90.4       86.0         85.2            71.4
Monetary sector                                                                                                          (Percentage change)
Broad money (M2, end-year)                                                         na                 na              29.4            27.3                 16.8       13.0         18.4            40.9
Domestic credit (end-year)                                                         na                 9.6             14.9            12.5                 20.8       18.1         13.7             7.6

Broad money (M2, end-year)                                                         na                40.4             47.4             51.2                49.6       45.5         40.9            46.7
Interest and exchange rates                                                                                        (In per cent per annum, end-year)
Refinance rate                                                                     na                 na                na               na                 na        25.0         28.0            23.0
Interbank interest rate (up to 30-day maturity)                                    na                 na                na               na                21.8       31.3         27.8            23.2
Deposit rate weighted average (fixed for less than 1 year)                         na                28.5              29.4             16.1               16.6       22.9         24.4            18.6
Lending rate weighted average (maturing within 1 year)                             na                32.1              35.5             28.8               25.6       29.7         32.2            24.0

Exchange rate (end-year)                                                          62.5               61.5             75.6             84.0              100.7       110.7       139.5           164.9
Exchange rate (annual average)                                                    59.1               63.2             74.8             79.0               92.0       105.1       125.7           152.6
External sector

Current account5                                                              -3,095.6           -1,557.6         -1,087.3        -1,313.4             -2,250.6   -3,456.6    -1,655.4         -1,787.7
Trade balance5                                                                -1,121.6           -1,336.6         -1,165.3        -1,685.4             -2,043.6   -3,179.6    -1,466.5         -1,696.6
                       5
   Merchandise exports                                                        11,280.6           12,743.3         17,083.3        21,056.7             24,058.8   31,277.5    14,749.8         16,175.9
   Merchandise imports5                                                       12,402.2           14,079.9         18,248.6        22,742.2             26,102.4   34,457.1    16,216.2         17,872.4
Foreign direct investment, net5                                                  187.0              311.0          1,459.0         1,471.0              2,328.0    1,097.0     4,772.3          3,335.1
Gross reserves, excluding gold (end-year)                                      1,246.0            1,069.0          3,935.0         4,347.0              6,691.0    8,727.0    11,967.0          9,681.0
External debt stock                                                           20,751.0           20,055.6         20,998.7        23,029.9             25,768.3   27,588.3    32,210.3         28,777.1
                                                                                                                                                                                                          (In
Gross reserves, excluding gold (end-year)                                          na                 1.4              3.9              3.6                 6.3        2.8          7.1             5.3
                                                                                                                                                                                                          (In p
Debt service 6                                                                     na                50.0             34.9             35.6                45.3       18.2         40.2            43.6
Memorandum items                                                                                                     (Denominations as indicated)
Population (end-year, million)                                                    10.4               10.4             10.4            10.4            10.4            10.4        10.3             10.3
GDP (in billions of forints)                                                   1,864.8            2,261.2          2,498.3         2,942.7         3,548.3         4,364.8     5,755.4          7,112.3
GDP per capita (in US dollars)                                                 3,027.9            3,448.6          3,219.5         3,590.8         3,719.7         4,011.3     4,429.9          4,516.6
Share of industry in GDP (in per cent)                                             na                 na              21.0            20.4            21.3            21.9        23.1             23.5
Share of agriculture in GDP (in per cent)                                          na                 na               7.8              6.5            6.1             5.9         5.9              6.1
Current account/GDP (in per cent)                                                 -9.8               -4.4             -3.3            -3.5            -5.8            -8.3        -3.6             -3.8
External debt - reserves (in US$ million)                                     19,505.0           18,986.6         17,063.7        18,682.9        19,077.3        18,861.3    20,243.3         19,096.1
External debt/GDP (in per cent)                                                   65.8               56.1             62.9            61.8            66.8            66.5        70.3             61.7
External debt/exports of goods and services (in per cent)                          na               236.9            180.7           172.7           236.5            80.3       161.5            130.1


1                                                                                        4
    GDP decomposition from 1996 is based on national accounts. Data before 1996              Data are based on Eurostat methodology (ESA95), excluding part of
    are based on OECD estimates.                                                             the cost of pension reform.
2                                                                                        5
    Data from labour force surveys.                                                          Data from balance of payments.
3                                                                                        6
    According to Eurostat                                                                    Excluding inter-company loans.
1997              1998              1999              2000              2001              2002              2003              2004              2005              2006              2007           2008           2009



            4.6               4.8               4.2               5.2               4.1               4.4               4.3               4.9               3.5               4.0            1.0            0.6           -6.3
            1.9               4.4               5.6               5.5               6.5              10.7               8.4               3.1               3.2               1.7            0.4           -0.5           -7.5
            3.2               1.7               1.5               1.9               2.9               5.7               5.1               1.6               2.1               3.8           -7.4           -0.8           -1.1
            9.2              13.2               5.9               7.7               4.7              10.5               2.1               7.9               5.7              -3.6            1.6            0.4           -6.5
           22.4              17.6              12.3              22.0               8.1               3.9               6.2              15.0              11.3              18.6           16.2            5.6           -9.1
           23.1              23.8              13.3              20.3               5.3               6.8               9.3              13.7               7.0              14.8           13.3            5.7          -15.4
            na                na                na               11.1               1.6               3.7               4.7               4.6               3.1               5.5            4.2           -0.3          -15.0
           -0.5              -1.5               0.9              -7.9              16.2              -9.9              -0.2              54.1              -3.9              -6.6          -21.4           54.8          -17.5


           -1.3               0.4               2.1             0.6                -0.4               0.2               1.4               0.1               0.8               1.6           -0.8           -0.5            0.2
            0.0               1.4               3.1             1.2                 0.3               0.1               1.3              -0.6               0.0               1.3           -1.1           -0.7           -2.5
                                  (In per cent of labour force)
            8.7               7.8               7.0             6.4                 5.7               5.8               5.9               6.1               7.2               7.5            7.7            8.0           10.5


           18.3              14.3              10.0               9.8               9.2               5.3               4.7               6.8               3.6               3.9            8.0            6.1            4.2
           18.4              10.3              11.2              10.1               6.8               4.8               5.7               5.5               3.3               6.5            7.4            3.5            5.6
           20.4              11.3               5.1              11.7               5.2              -1.8               2.4               3.5               4.3               6.5            0.2            5.3            4.9
           19.5               7.1               8.2              12.4              -0.4              -1.3               6.2               1.6               4.5               4.5            1.6           -0.8            0.1
           22.3              18.3              13.9              13.5              18.2              18.3              12.0               6.1               8.8               8.2            8.0            7.4            0.6


           -5.5              -7.4              -5.1              -3.0              -4.0              -8.9              -7.2              -6.4              -7.9              -9.4           -5.0           -3.7           -4.4
           49.2              50.4              48.4              46.8              47.2              51.2              49.4              48.7              50.2              52.0           50.0           48.8           50.5
           62.0              59.9              59.8              54.9              52.0              55.6              58.3              59.1              61.8              65.7           66.1           72.3           78.4


           19.8              10.1              15.8              12.1              16.8              13.8              13.6               9.9              13.0              11.8            8.6           10.2            0.8
           12.0             -25.2              20.7              18.7               4.5              15.7              21.0              14.1              16.3              18.5           12.8           18.5           -3.5
                                      (In per cent of GDP)
           45.1              41.9              43.5              42.5              43.3              43.8              45.5              45.3              48.5              50.2           51.1           53.3           55.1


           20.5              17.0              14.5           11.0                  9.8               8.5              12.5               9.5               6.0               8.0            7.5           10.0            6.3
           19.7              17.3              14.5           11.9                 10.0               8.9              12.2               9.7               6.1               8.1            7.6           10.1            6.7
           16.3              14.4              11.9            9.9                  9.4               7.4               8.7               9.1               5.2               7.4            6.8            9.9            5.8
           20.8              18.8              19.4           12.8                 12.0               9.7              11.2              11.0               7.4               9.2            8.8           12.3            8.9
                                     (Forints per US dollar)
         203.5              219.0             252.5          284.7               279.0             225.2             207.9             180.3             213.6             191.6           172.6          187.9          188.1
         186.8              214.5             237.3          282.2               286.5             257.9             224.3             202.7             199.6             210.4           183.6          172.1          202.3


                                   (In millions of US dollars)
       -2,053.9           -3,386.8          -3,762.4        -4,010.7           -3,201.1          -4,643.2          -6,697.9          -8,493.2          -8,069.7       -8,423.9          -9,389.8      -11,128.1          342.3
       -1,320.7           -1,886.3          -2,177.3        -2,930.0           -2,233.7          -2,075.6          -3,271.2          -3,555.4          -2,795.4       -2,576.3             260.0         -108.2        5,681.9
       19,360.0          23,566.6          25,632.7         28,821.9           31,054.4          34,684.1          42,793.9          55,279.9          62,827.3       73,320.4          93,172.2      106,441.7       82,491.0
       20,680.7          25,452.9          27,809.9         31,751.9           33,288.1          36,759.7          46,065.1          58,835.3          65,622.6       75,896.7          92,912.2      106,549.9       76,809.2
        3,715.0            3,069.9           3,059.5         2,150.8            3,573.0           2,721.8             478.8           3,404.8           5,586.3        3,117.7           1,794.9        3,998.8            0.0
        8,400.0            9,312.3         10,824.3         11,093.2           10,886.7           9,313.7          11,411.5          14,495.9          19,830.6       20,535.6          22,313.3       35,095.3       42,336.3
       25,424.8          26,487.7          31,316.1         30,014.3           33,461.9          36,321.8          51,976.9          69,076.9          84,833.2      102,869.1         135,058.6      179,870.2      180,779.3
                         (In months of imports of goods and services)
            4.1                3.8               4.0             3.6                3.4               2.6               2.5               2.5               3.1               2.8            2.5            3.4            5.5
                         (In per cent of exports of goods and services)
           37.7               26.6              17.8            15.2               14.3              13.4              14.0              14.8              15.3              12.5           12.4           17.1           27.0


           10.3              10.3              10.3              10.2              10.2              10.2              10.1              10.1              10.1              10.1           10.1           10.1           10.0
        8,812.9          10,451.2          11,650.6          13,368.9          15,307.2          17,231.3          18,838.3          20,822.4          21,970.8          23,730.0       25,321.5       26,753.9       26,054.3
        4,581.1           4,740.9           4,788.1           4,635.0           5,238.1           6,566.9           8,280.6          10,151.8          10,902.1          11,193.3       13,699.2       15,458.7       12,818.8
           25.0              25.9              26.7              27.1              26.4              25.8              25.4              25.9              25.9              26.1           25.6           24.6           25.3
            5.8               5.4               5.3               4.6               4.5               4.0               3.7               4.1               3.6               3.5            3.4            3.6            2.6
           -4.4              -6.9              -7.7              -8.5              -6.0              -6.9              -8.0              -8.3              -7.3              -7.5           -6.8           -7.2            0.3
       17,024.8          17,175.5          20,491.8          18,921.1          22,575.2          27,008.1          40,565.4          54,581.0          65,002.7          82,333.4      112,745.3      144,774.9      138,442.9
           53.9              54.4              63.8              63.4              62.6              54.4              61.9              67.3              77.1              91.2           97.9          115.7          140.4
          100.9              91.5             101.5              86.4              87.8              86.4             100.0             104.6             111.7             118.3          122.4          142.3          179.8
2010



            0.8
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            4.5
            3.5
            na
            na
            na


           -3.9
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



        1,294.4
        6,200.0
       95,200.0
       89,000.0
       -2,500.0
            na
            na

            na

            na


            na
       26,262.8
            na
            na
            na
            1.0
            na
            na
            na
Kazakhstan
                                                                                      1989                1990              1991              1992              1993           1994         1995 1996
                                                                                                                                                                            Estimate   Projection

Output and expenditure                                                                                                  (Percentage change in real terms)
GDP                                                                                   -0.4                -0.4            -11.0             -5.3               -9.2           -12.6         -8.2            0.5
   Private consumption                                                                 na                  na                na              na               -10.3           -24.0        -21.5           -4.0
   Public consumption                                                                  na                  na                na              na               105.0             0.0         -7.3          -13.2
   Gross fixed capital formation                                                       na                  na                na              na               -29.8            22.0        -37.5          -24.4
   Exports of goods and services                                                       na                  na                na              na                -6.8           -11.0          5.0            2.0
   Imports of goods and services                                                       na                  na                na              na               -25.2            -5.6        -19.9          -17.1
Industrial gross output                                                                2.0                -1.0              -1.0          -14.0               -14.0           -28.1         -8.2            0.3
Agricultural gross output                                                            -14.0                16.0            -22.6            28.7                -6.9           -21.0        -24.4           -5.0
Employment1                                                                                                                    (Percentage change)
Labour force (end-year)                                                                na                  0.6               0.9             0.7                 0.0            -0.8        -1.1           -0.2
Employment (end-year)2                                                                 na                  na                na               na                 na             -3.8        -7.8          -12.3

Unemployment (end-year) 3                                                              na                  na                0.1               0.4               0.5             8.0        10.1            7.6
Prices and wages                                                                                                              (Percentage change)
Consumer prices (annual average)                                                       na                 na               78.8         1,381.0              1,662.3        1,892.0       176.3           39.1
Consumer prices (end-year)                                                             na               104.6             136.8         2,984.1              2,169.0        1,158.3        60.4           28.6
Producer prices (annual average)                                                       na                 na                na               na                  na         2,920.4       231.2           24.3
Producer prices (end-year)                                                             na                 na              212.3         3,816.9              1,323.8        1,923.8        40.2           18.5
Gross average monthly earnings in economy (annual average)                             na                 na                na            860.0              2,566.7        1,248.2       177.3           42.9
Government sector4                                                                                                             (In per cent of GDP)
General government balance5                                                            na                  1.4              -7.9               -7.3            -4.1            -7.4         -3.4          -5.3
General government expenditure 6                                                       na                  na                na                 na             25.2            18.4         20.8          18.6
General government debt                                                                na                  na                na                 na              na             27.7         14.5          13.8
Monetary sector                                                                                                                (Percentage change)
Broad money (M2, end-year)                                                             na                  na                 na              na                 na           576.0       108.2           20.9
Domestic credit (end-year)                                                             na                  na                 na              na                 na             na          na             na

Broad money (M2, end-year)                                                             na                  na                 na                  na           27.9            13.1         11.4            9.9
Interest and exchange rates                                                                                              (In per cent per annum, end-year)
Refinancing rate                                                                       na                  na                 na               na             170.0           230.0         52.5          35.0
Treasury bill rate (3-month maturity)7                                                 na                  na                 na               na               na            214.3         49.0          28.9
Deposit rate8                                                                          na                  na                 na               na               na              na          44.4          29.3
Lending rate9                                                                          na                  na                 na               na               na              na          58.3          53.6

Exchange rate (end-year)                                                               na                  na                0.0               0.8               6.3           54.3         64.0          73.3
Exchange rate (annual average)                                                         0.0                 0.0               0.0               0.4               5.3           35.6         61.0          67.3
External sector

Current account                                                                   -4,943.7           -6,838.9           -1,295.0           -1,479.0           -438.0         -904.3      -213.1          -750.9
Trade balance10                                                                   -4,045.3           -5,564.9           -3,157.0           -1,121.0           -414.0         -928.7       114.1          -335.0
   Merchandise exports                                                            12,681.3           12,057.2           10,211.0            3,562.0          4,769.0        3,285.3     5,440.0         6,291.7
   Merchandise imports                                                            16,726.7           17,622.1           13,368.0            4,683.0          5,183.0        4,214.0     5,325.9         6,626.7
Foreign direct investment, net                                                         na                 na                 na               100.0          1,271.4          659.7       963.9         1,136.9
Gross reserves, excluding gold (end-year)                                              na                 na                67.2              166.2            455.7          837.5     1,135.6         1,294.7
External debt stock11                                                                  na                 na                 na                35.0          1,727.8        2,789.6     4,765.2         5,806.9
                                                                                                                                                                                                                  (In
Gross reserves, excluding gold (end-year)1 2                                           na                  na                0.0               0.4               0.9             2.1         2.2            2.1
                                                                                                                                                                                                                  (In p
Debt service                                                                           na                  na                 na                  na             na              4.2         7.9          15.9
Memorandum items                                                                                                           (Denominations as indicated)
Population (end-year, million)                                                        16.5               16.6               16.7            17.0                16.9           15.8        15.7            15.5
GDP (in billions of tenges)                                                            0.1                0.1                0.2              2.4               29.4          423.5     1,014.2         1,415.7
GDP per capita (in US dollars)                                                     3,925.0            4,737.6            8,362.6           346.6               331.0          752.0     1,061.5         1,358.9
Share of industry in GDP (in per cent)                                                 na                 na                 na             30.1                28.5           23.6        23.5            23.5
Share of agriculture in GDP (in per cent)                                              na                 na                 na             16.2                16.6           15.0        12.3            11.7
Current account/GDP (in per cent)                                                     -7.6               -8.7               -0.9           -25.0                -7.8           -7.6        -1.3            -3.6
External debt - reserves (in US$ million)                                              na                 na                 na           -131.2             1,272.1        1,952.1     3,629.6         4,512.2
External debt/GDP (in per cent)                                                        na                 na                 na               0.6               30.9           23.5        28.6            27.6
External debt/exports of goods and services (in per cent)                              na                 na                 na               0.9               33.5           75.0        79.8            83.4


1                                                                                            7
    Data based on labour force surveys.                                                          Average effective yield of short-term National Bank of Kazakhstan notes.
2                                                                                            8
    Break in series in 1998. Until 1997, employment data based on registered                     Deposit rate refers to the weighted average of interest rates on time
    employment. From 1998, data based on labour force surveys.                                   deposits of individuals, in tenge by maturity.
3                                                                                            9
    Until 1993, data based on registered unemployment. From 1994, data based on                  Lending rate refers to weighted average of interest rates on credits extended
    labour force surveys.                                                                        to legal entities, excluding banks in tenge by maturity.
4                                                                                            1
    General government includes the state, municipalities and extra-budgetary                0 Exports at declared customs prices. They are not corrected for
    funds and is on a cash basis.                                                                under-invoicing of oil and gas exports.
5                                                                                            1
    Government balance includes quasi-fiscal operations and transfers to the                 1 Includes inter-company debt by branches of non-resident foreign enterprises
    National Fund. Balance excludes privatisation revenues.                                      and short-term debt.
6                                                                                            1
    Expenditures include extra-budgetary funds.                                              2 Excludes National Fund.
1997             1998              1999              2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



           1.7              -1.9               2.7               9.8              13.5               9.8               9.3               9.6               9.7              10.7               8.9               3.2               1.2
           2.5              -0.5               0.1               1.2               7.8               2.7              11.8              13.9              11.4              14.3              10.9               6.3              -3.0
         -12.1             -15.2               7.6              15.0              19.2              -7.5               8.9              10.6              11.8              18.0              14.0               4.3               1.1
           5.9              -7.2               0.5              16.1              25.3              10.0               8.0              22.5              11.9              24.0              17.3               1.0               1.9
           1.2             -11.9               3.0              28.7              -1.8              16.6               7.5              10.9               1.4               7.1               9.0               0.8              -6.2
           7.5              -7.2               0.6              26.1               0.3               3.1              -7.6              14.8              13.3              13.7              25.8             -11.5             -15.9
           4.0              -2.4               2.7              15.5              13.8              10.5               9.1              10.4               4.8               7.2               5.0               2.1               2.7
          -0.8             -18.9              28.0              -3.5              17.3               3.4               2.1              -0.5               7.3               6.2               8.9              -6.4              13.9


          -0.4                na               0.0              0.7                5.2              -1.1               3.5               2.4               0.8               1.6               2.5               2.3               0.5
         -17.1                na              -0.4              1.6                8.0               0.2               4.1               2.8               1.1               2.0               3.1               3.0               0.6
                                 (In per cent of labour force)
           6.5              13.1              13.5             12.8               10.4               9.3               8.8               8.4               8.1               7.8               7.6               6.6               6.6


         17.4                7.1               8.3              13.2               8.4               5.9               6.4               6.9               7.6               8.6              10.8              17.2               7.3
         11.2                1.9              17.8               9.8               6.4               6.6               6.8               6.7               7.5               8.4              18.8               9.5               6.2
         15.6                0.8              18.8              38.0               0.3               0.3               9.3              16.9              23.7              18.4              10.9              42.8             -22.1
         11.7               -5.5              57.2              19.4             -14.1              11.9               5.9              23.8              20.3              14.6              31.9              18.6              -6.3
         24.9               13.4              22.5              21.2              20.4              17.5              13.8              22.5              20.3              20.4              30.6              14.1              10.5


         -7.0               -8.0              -5.2              -1.0               2.7               1.4               3.0               1.9               5.8               7.2               4.7               1.1              -1.5
         20.4               26.1              23.2              23.2              23.0              21.0              22.3              22.7              22.3              20.2              24.6              26.8              25.2
         17.1               22.4              31.5              25.5              20.4              17.7              15.0              11.4               8.1               6.7               5.9               6.6              10.9


         24.1              -14.1             84.4               45.0              40.2              30.1              34.2              68.2              26.3              78.1              -3.4              30.0              15.5
          na                 na                na                na               18.0              30.2              38.1              81.1              52.3              76.5              68.4              -5.7              14.0
                                    (In per cent of GDP)
         10.3                8.6             13.6               15.3              17.1              19.2              21.1              27.8              27.2              36.0              28.1              28.3              33.6


         18.5               25.0          18.0           14.0                      9.0               7.5               7.0               7.0               8.0               9.0              11.0              10.5               7.0
         15.2               23.6          15.6            6.6                      5.3               5.2               5.9               3.3               3.3               3.3               7.0               6.5               7.0
         12.0               14.5          13.5           15.6                     12.8              11.0              10.9               9.3               9.1               9.8              11.5              11.3              10.0
         22.8               17.0          20.8           18.8                     15.3              14.1              14.9              13.7              13.0              12.2              14.8              16.1              14.3
                                 (Tenges per US dollar)
         75.6               83.8        138.2           144.5                   150.2             155.6             144.2             130.0             134.0             127.0             120.7             120.8             148.4
         75.4               78.3        119.5           142.1                   146.7             153.3             149.6             136.0             132.9             126.1             122.6             120.3             147.5


                                  (In millions of US dollars)
        -799.3           -1,224.9           -236.0            366.3           -1,389.5          -1,024.3            -272.6             335.4          -1,056.4          -1,998.6          -8,321.9        6,279.5          -3,404.7
        -276.4             -801.2            340.3          2,168.4              983.4           1,987.1           3,679.0           6,785.4          10,321.8          14,641.7          15,091.0       33,518.8          15,187.3
       6,899.3            5,870.5          5,988.5          9,288.1            8,927.8          10,026.9          13,232.6          20,603.1          28,300.6          38,762.1          48,351.1       71,970.8          43,961.1
       7,175.7            6,671.7          5,648.2          7,119.7            7,944.4           8,039.8           9,553.6          13,817.7          17,978.8          24,120.4          33,260.2       38,452.0          28,773.9
       1,320.0            1,143.3          1,468.0          1,278.2            2,860.6           2,163.8           2,213.4           5,436.0           2,117.1           6,662.9           7,965.9       14,783.2           9,525.7
       1,697.1            1,461.2          1,479.2          1,594.1            1,997.2           2,555.3           4,236.0           8,473.0           6,083.0          17,751.0          15,776.0       17,871.0          20,590.0
       7,749.5            9,932.2         12,080.8         12,684.6           15,157.4          18,251.0          22,920.6          32,713.2          43,428.5          74,014.1          96,893.0      107,713.0         111,730.0
                        (In months of imports of goods and services)
           2.5                2.2               2.6             2.1                2.3               2.6               3.8               5.4               2.9               6.5               4.2               4.3               6.4
                        (In per cent of exports of goods and services)
         24.5                22.4             27.3             31.7               37.6              35.4              35.2              36.2              36.2              28.5              49.0              41.6              63.5


          15.2              15.0              14.9              14.9              14.9              14.9              15.0              15.1              15.1              15.4              15.5              15.6              15.6
       1,672.1           1,733.3           2,016.5           2,599.9           3,250.6           3,776.3           4,612.0           5,870.1           7,590.6          10,213.7          12,641.0          16,307.0          15,894.0
       1,459.4           1,479.9           1,132.3           1,230.5           1,491.7           1,657.1           2,062.3           2,862.5           3,785.6           5,261.0           6,638.4           8,715.8           6,921.6
          24.0              23.9              23.9              25.2              25.2              25.3              25.3              25.4              24.2              23.4              22.4              22.2               na
          11.4               9.4              11.1               9.8              10.1               9.5               8.8               8.1               7.9               7.6               7.6               6.9               na
          -3.6              -5.5              -1.4               2.0              -6.3              -4.2              -0.9               0.8              -1.8              -2.5              -8.1               4.6              -3.2
       6,052.4           8,471.0          10,601.6          11,090.5          13,160.2          15,695.7          18,684.6          24,240.2          37,345.5          56,263.1          81,117.0          89,842.0          91,140.0
          35.0              44.9              71.6              69.3              68.4              74.1              74.3              75.8              76.0              91.4              93.9              79.5             103.7
         100.1             146.6             174.7             122.7             148.8             157.8             153.4             144.7             142.3             178.0             186.6             141.0             231.7
2010



            6.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            6.9
            6.5
            na
            na
            na


           -3.2
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



        3,300.0
       29,100.0
       58,300.0
       29,200.0
        9,700.0
            na
            na

            na

            na


            na
       18,750.0
            na
            na
            na
            2.6
            na
            na
            na
Kosovo
                                                             1989    1990      1991             1992            1993      1994         1995 1996
                                                                                                                       Estimate   Projection

Output and expenditure                                                      (Percentage change in real terms)
GDP                                                           na      na         na              na              na         na           na        na
   Private consumption                                        na      na         na              na              na         na           na        na
   Public consumption                                         na      na         na              na              na         na           na        na
   Gross fixed capital formation                              na      na         na              na              na         na           na        na
   Exports of goods and services                              na      na         na              na              na         na           na        na
   Imports of goods and services                              na      na         na              na              na         na           na        na
Industrial gross output                                       na      na         na              na              na         na           na        na
Agricultural gross output                                     na      na         na              na              na         na           na        na
Employment                                                                        (Percentage change)
Labour force (annual average)                                 na      na         na              na              na         na           na        na
Employment (annual average)                                   na      na         na              na              na         na           na        na

Unemployment (end-year)                                       na      na         na               na             na         na           na        na
Prices and wages                                                                  (Percentage change)
Consumer prices (annual average)                              na      na         na              na              na         na           na        na
Consumer prices (end-year)                                    na      na         na              na              na         na           na        na
Producer prices (annual average)                              na      na         na              na              na         na           na        na
Producer prices (end-year)                                    na      na         na              na              na         na           na        na
Gross average monthly earnings in economy (annual average)    na      na         na              na              na         na           na        na
Government sector                                                                 (In per cent of GDP)
General government balance                                    na      na         na                na            na         na           na        na
General government expenditure                                na      na         na                na            na         na           na        na
General government debt                                       na      na         na                na            na         na           na        na
Monetary sector                                                                   (Percentage change)
Broad money (M2, end-year)                                    na      na         na              na              na         na           na        na
Domestic credit (end-year)                                    na      na         na              na              na         na           na        na

Broad money (M2, end-year)                                    na      na         na               na             na         na           na        na
Interest and exchange rates                                                 (In per cent per annum, end-year)
Official rate                                                 na      na         na               na             na         na           na        na
Overnight interbank rate                                      na      na         na               na             na         na           na        na
Deposit rate                                                  na      na         na               na             na         na           na        na
Lending rate                                                  na      na         na               na             na         na           na        na

Exchange rate (end-year)                                      na      na         na               na             na         na           na        na
Exchange rate (annual average)                                na      na         na               na             na         na           na        na
External sector

Current account                                               0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
Trade balance                                                 0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
   Merchandise exports                                        0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
   Merchandise imports                                        0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
Foreign direct investment, net                                0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
Gross reserves, excluding gold (end-year)                     0.0   199.4       0.0              0.0             0.0       0.0          0.0        0.0
External debt stock                                           0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
                                                                                                                                                         (In
Gross reserves, excluding gold (end-year)                     na      na         na               na             na         na           na        na
                                                                                                                                                         (In p
Debt service                                                  na      na         na               na             na         na           na        na
Memorandum items                                                              (Denominations as indicated)
Population (end-year, million)                                na      na        na               na              na        na           na         na
GDP (in billions of Euro)                                     na      na        na               na              na        na           na         na
GDP per capita (in US dollars)                                0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
Share of industry in GDP (in per cent)                        na      na        na               na              na        na           na         na
Share of agriculture in GDP (in per cent)                     na      na        na               na              na        na           na         na
Current account/GDP (in per cent)                             na      na        na               na              na        na           na         na
External debt - reserves (in US$ million)                     0.0     0.0       0.0              0.0             0.0       0.0          0.0        0.0
External debt/GDP (in per cent)                               na      na        na               na              na        na           na         na
External debt/exports of goods and services (in per cent)     na      na        na               na              na        na           na         na
1997         1998              1999              2000                2001            2002             2003             2004              2005              2006              2007              2008              2009



       na                 na               na                 39.0             5.6             -2.4             -0.1               2.0              3.9               4.0               4.0               5.4               4.0
       na                 na               na                  na              na               na               na                0.2              0.1               0.0               0.1               0.2               na
       na                 na               na                  na              na               na               na               -0.3              0.0               0.0               0.0               0.0               na
       na                 na               na                  na              na             -12.8             -7.4              -0.1              0.0               0.1               0.1               0.3               na
       na                 na               na                  na              na               na               na                1.0              0.1               0.3               0.2               0.1               na
       na                 na               na                  na              na               na               na                0.0              0.1               0.1               0.2               0.2               na
       na                 na               na                  na              na               na               na                na               na                na                na                na                na
       na                 na               na                  na              na               na               na                na               na                na                na                na                na


       na                 na                na                 na              na               na              -0.1              -0.1              0.1               0.1               -0.1               0.9               na
       na                 na                na                 na              na               na               0.0               0.1              0.0               0.1               -0.1              -0.1               na
                             (In per cent of labour force)
       na                 na                na                 na            57.1             55.0             49.7              39.7              41.4              44.9              43.6              47.5                na


       na                 na               na                  na              na               2.0              1.2              -1.4              -1.4               1.5              4.4               9.4               -2.4
       na                 na               na                 11.3             5.0              1.6              0.5              -3.7               0.7               1.1             10.5               0.5                0.1
       na                 na               na                  na              na               na               na                na                na                na               na                na                 na
       na                 na               na                  na              na               na               na                na                na                na               na                na                 na
       na                 na               na                  na              na               na               na               -1.7               2.0              -4.4              na                na                 na


       na                 na               na                -10.1            6.7              3.7              2.1              -3.9              -1.4               1.6               6.8               0.1               na
       na                 na               na                 27.3           21.3             15.5             21.4              40.5              34.5              33.4              29.4              33.8              23.9
       na                 na               na                  na             na               na               na                na                na                na                na                na                na


       na                 na               na                  na            43.8               2.7             -1.3              1.5               -3.2             -12.3             23.3              25.0                na
       na                 na               na                  na             na                na               na               na                 na                na               na                na                 na
                                (In per cent of GDP)
       na                 na               na                102.1           95.0             43.5             44.4              37.9              36.0              30.7              34.6              38.3                na


       na                 na              na                   na             na               na               na                na                na                na                na                na                 na
       na                 na              na                   na             na               na               na                na                na                na                na                na                 na
       na                 na              na                   na             3.1              3.1              3.5               2.8               3.1               3.1               4.0               4.4                na
       na                 na              na                   na            15.6             15.9             14.4              14.8              14.0              14.6              14.1              13.8                na
                                (Euro per US dollar)
       na                 na              na                   1.1             1.1              1.0              0.8              0.7               0.8               0.8               0.7               0.7               0.7
       na                 na              na                   1.1             1.1              1.1              0.9              0.8               0.8               0.8               0.7               0.7               0.7


                              (In millions of US dollars)
       0.0                0.0               0.0        -1,302.0             -644.9           -826.2           -777.6            -389.0            -380.5            -414.3            -585.5          -1,088.6          -1,173.7
       0.0                0.0               0.0        -1,378.0             -673.9           -827.2           -937.6          -1,201.2          -1,320.1          -1,433.6          -1,828.5          -2,398.1          -2,327.8
       0.0                0.0               0.0           169.0               10.6             27.6             35.6              70.6              71.3             139.1             225.6             290.5               na
       0.0                0.0               0.0         1,547.0              684.5            854.8            973.3           1,271.9           1,391.3           1,572.7           2,054.1           2,688.6               na
       0.0                0.0               0.0             0.0                5.4             10.9             32.6              23.1             101.2             307.0             647.3             498.2             588.5
       0.0                0.0               0.0             0.0                0.0              0.0              0.0               0.0               na                na                na                na                na
       0.0                0.0               0.0             0.0                0.0              0.0              0.0               0.0               na                na                na                na                na
                    (In months of imports of goods and services)
       na                  na               na              na                 na               na               na                na                na                na                na                na                na
                    (In per cent of exports of goods and services)
       na                  na               na              0.0                0.0              0.0              0.0              0.0               0.0               0.0               0.0               6.0                na


       na                na                na               1.8               1.9               2.0              2.0              2.0               2.0               2.0               2.1               2.2               2.2
       na                na                na               0.7               1.2               2.6              2.5              3.0               3.0               3.1               3.4               3.8               3.9
       0.0               0.0               0.0            377.7             558.3           1,304.8          1,242.6          1,457.0           1,464.0           1,487.0           1,602.0           1,784.0           1,766.2
       na                na                na               na                na                na               na               na                na                na                na                na                na
       na                na                na               na                na                na               na               na                na                na                na                na                na
       na                na                na            -189.4             -62.4             -31.9            -31.0            -13.1             -12.6             -13.3             -17.2             -28.3             -30.3
       0.0               0.0               0.0              0.0               0.0               0.0              0.0              0.0               na                na                na                na                na
       na                na                na               na                na                na               na               na                na                na                na                na                na
       na                na                na               na                na                na               na               na                na                na                na                na                na
2010



       4.6
       na
       na
       na
       na
       na
       na
       na


       na
       na

       na


       1.7
       3.1
       na
       na
       na


       na
       na
       na


       na
       na

       na


       na
       na
       na
       na

       na
       na



       na
       na
       na
       na
       na
       na
       na

       na

       na


       na
       na
       na
       na
       na
       na
       na
       na
       na
Kyrgyz Republic
                                                                                   1989                1990              1991              1992               1993             1994        1995 1996
                                                                                                                                                                         Estimate     Projection

Output and expenditure                                                                                               (Percentage change in real terms)
GDP                                                                                 2.8                 5.7              -7.9          -13.9                 -15.5            -20.1        -5.4             7.1
   Private consumption                                                              na                  na             -17.2           -11.3                  -8.8            -17.8       -14.6             6.7
   Public consumption                                                               na                  na                0.0          -16.8                 -30.1            -23.1        -7.3             6.7
   Gross fixed capital formation                                                    na                  na             -11.7           -29.3                 -21.8            -28.9        60.7           -32.1
   Exports of goods and services                                                    na                  na             -12.0           -45.9                  23.9            -19.0       -17.4            25.1
   Imports of goods and services                                                    na                  na             -28.3           -34.5                   6.8            -22.2       -18.5             6.9
Industrial gross output                                                             5.3                -0.8               0.0          -26.3                 -25.3            -36.1       -24.7             3.9
Agricultural gross output                                                           5.3                -0.8              -9.3            -5.0                 -3.6             -8.6        -2.0            15.2
Employment                                                                                                                  (Percentage change)
Labour force (end-year)1                                                            na                  1.3               1.4             0.8                 -0.1             -0.1         1.3             1.9
Employment (end-year)                                                               na                  0.5               0.4             4.7                 -8.5             -2.1        -0.2             0.6

Unemployment (end-year)                                                             na                   na                na               na                 na               na          5.7             na
Prices and wages                                                                                                           (Percentage change)
Consumer prices (annual average)                                                    na                  na              85.0           855.0               772.4              180.7        43.5            31.9
Consumer prices (end-year)                                                          na                  na             170.0         1,259.0             1,363.0               62.1        32.1            34.8
Producer prices (annual average)                                                    na                  na               na               na               649.7              215.3        37.6            23.0
Producer prices (end-year)                                                          na                  na               na               na               224.6              120.0        17.0            23.0
Gross average monthly earnings in economy (annual average)                          na                 10.6             65.8            -96.8              628.7              178.5        57.8            33.3
Government sector2                                                                                                          (In per cent of GDP)
General government balance3                                                       -3.1                 -6.1               4.0             -17.5              -14.4            -11.6       -17.3            -9.5
General government expenditure                                                    24.5                 28.7              25.4              35.1               39.1             32.5        39.9            28.6
General government debt                                                            na                   na                na                 na               43.6             42.4        52.4            57.7
Monetary sector                                                                                                             (Percentage change)
Broad money (M2, end-year)                                                          na                   na                na              na                  na               na           na            14.8
Domestic credit (end-year)                                                          na                   na                na              na                  na               na           na            41.8

Broad money (M2, end-year)                                                          na                   na                na               na                 na               na         17.2            13.6
Interest and exchange rates                                                                                          (In per cent per annum, end-year)
Official rate                                                                       na                   na               na               na                265.5             94.1        64.1            43.1
Money market rate4                                                                  na                   na               na               na                  na              52.6        38.2            52.3
Deposit rate5                                                                       na                   na               na               na                  na               na          na             36.7
Lending rate5                                                                       na                   na               na               na                  na               na          na             65.0

Exchange rate (end-year)                                                            na                  na                0.0               2.1                8.0             10.7        11.2            16.7
Exchange rate (annual average)                                                      0.0                 0.0               0.0               1.0                6.1             10.8        10.8            12.8
External sector

Current account                                                                     na                  na               na               -52.7           -104.7          -120.1        -239.2           -420.1
Trade balance                                                                    -374.1              -527.9           -158.6             -108.6           -107.1           -86.1        -122.0           -251.7
   Merchandise exports                                                          1,156.1             1,091.7          3,696.1              285.9            339.6           340.0         408.9            531.2
   Merchandise imports                                                          1,530.2             1,619.6          3,854.6              394.5            446.7           426.1         530.9            782.9
Foreign direct investment, net                                                      na                  na               na                 na              10.0            44.9          61.0             30.6
Gross reserves, excluding gold (end-year)                                           na                  na               na                 na              48.2            26.2          81.0             94.6
External debt stock                                                                 0.0                 0.0              0.0                5.3            291.7           413.7         584.7            752.6
                                                                                                                                                                                                                  (In m
Gross reserves, excluding gold (end-year)                                           na                   na                na               na                 1.3              0.7         1.5             1.2
                                                                                                                                                                                                                  (In p
Debt service6                                                                       na                   na                na               0.0                1.4              4.9        19.6            13.6
Memorandum items                                                                                                       (Denominations as indicated)
Population (end-year, million)                                                      4.3                 4.4              4.4              4.5                4.5            4.5            4.6              4.7
GDP (in millions of soms)                                                          37.5                42.8             92.6           741.3             5,354.7       12,019.2       16,145.1         23,399.3
GDP per capita (in US dollars)                                                  2,745.9             3,300.3          7,191.7           172.1               195.4          244.2          325.0            392.2
Share of industry in GDP (in per cent)                                              na                  na              26.3            32.1                25.1           20.5           12.0             11.1
Share of agriculture in GDP (in per cent)                                           na                  na              34.0            37.5                39.1           38.3           40.7             46.3
Current account/GDP (in per cent)                                                   na                  na               na             -6.9               -11.9          -10.8          -16.0            -23.0
External debt - reserves (in US$ million)                                           na                  na               na               na               243.5          387.5          503.7            658.0
External debt/GDP (in per cent)                                                     na                  na               na               0.7               33.2           37.3           39.2             41.2
External debt/exports of goods and services (in per cent)                           na                  na               na               0.9               82.0          111.5          129.1            134.0


1                                                                                         4
    Based on labour force data from World Bank World Development Indicators.                  Weighted average rate on interbank loans in soms with 1-90 day maturities,
2
    General government includes the state, municipalities and extra-budgetary                 from International Financial Statistics.
                                                                                          5
    funds. It also includes expenditure under the foreign-financed public                     Weighted average over all maturities from International Financial Statistics.
                                                                                          6
    investment programme and net lending.                                                     Debt service scheduled and excludes US$ 111 million debt rescheduling
3
    Cash basis.                                                                               granted by the Paris Club of official creditors for 2002-04.
1997              1998              1999              2000              2001              2002              2003              2004              2005             2006             2007              2008              2009



            9.9              2.1                3.7               5.4               5.3               0.0               7.0               7.0             -0.2              3.1              8.5               8.4               2.3
           -8.4             18.4                0.1              -5.2               2.1               4.8              26.2               8.4              8.7             19.7              2.5              13.4              -3.7
           -5.3              3.1                4.7               3.8              -3.4              -0.2               5.7               7.1              0.1             -1.0              1.8               0.7               1.5
          -29.6             -1.6               28.1              26.9              -1.9              -7.4              -6.4               7.4             10.3             49.4             10.8              13.2               2.8
           21.1             -8.7              -10.4              10.5              -3.2               8.1               5.3              12.8            -11.0              8.9             25.9               9.1              -4.6
          -20.2              1.5               -4.9               3.9             -13.8              13.1              16.0              16.3              6.5             45.0             11.0              13.6             -20.5
           39.6              5.3               -4.3               6.0               5.4             -10.9              17.0               4.6            -12.1            -10.2              7.3              14.9              -6.4
           12.3              2.9                8.2               2.6               7.3               3.1               3.2               4.1             -4.2              1.7              1.5               0.8               7.4


            2.0               2.2               2.1             1.6                 1.4              -6.2               4.9               3.6              4.5              1.5              2.6               1.3               1.1
            2.3               0.9               3.5             0.2                 1.1               3.5               4.3               3.1              4.3              0.9              2.7               1.5               1.5
                                  (In per cent of labour force)
            na                5.9               7.4             7.5                 7.8              13.4              10.3               8.7              8.2              8.3              8.2               8.3               8.5


           23.4             10.5               35.9              18.7               6.9               2.0               2.5               4.0             5.2              5.7              10.2              24.5              6.8
           13.0             16.8               39.8               9.5               3.7               2.3               5.6               2.7            19.1              5.1              20.1              20.1             -0.1
           26.3              7.9               53.7              30.7              12.0               7.1               4.6               5.9             3.2             16.1              11.7              25.8             11.2
            2.4             31.3               43.6              22.9              11.2               7.5              13.5               4.3             6.3              8.7              22.8              15.7             20.4
           38.6             23.6               24.9              16.9              18.6              15.8              13.7              16.9            16.6             25.2              21.4              35.5             14.6


           -9.2             -9.5             -13.1             -10.4              -5.6              -5.3              -4.7               -4.4            -3.4             -2.1              -0.3               0.0             -3.7
           29.9             34.1              34.5              28.9              26.0              28.1              27.2               27.7            28.1             28.9              31.0              29.3             37.0
           64.8            114.1             136.5             122.3             107.3             106.9             106.9               92.9            85.9             72.5              56.8              48.5             59.4


           32.2             17.5               33.7              11.7              11.3              33.9              33.4              -7.8            17.8             51.0              44.2               6.5              17.5
           -5.6             22.6                5.0              10.0              -8.1              21.6              11.3             -18.8            19.6             39.8              49.8              18.5             -21.1
                                      (In per cent of GDP)
           13.7             14.5               13.6              11.3              11.1              14.6              17.5              14.4            15.8             21.2              24.5              19.7             22.1


           43.2             54.0            51.6                 32.8              10.7               5.3               4.8               4.8             6.2              4.7              13.2              18.3              1.9
           23.5             32.9            55.1                 44.8              12.4               7.0               7.2               4.9             4.4              4.8               4.9              13.2             10.6
           39.6             35.8            35.6                 18.4              12.5               5.9               5.0               6.7             5.8              5.6               5.4               4.0              3.9
           49.4             73.4            60.9                 51.9              37.3              24.8              19.1              29.3            26.6             23.2              25.3              19.9             23.0
                                     (Soms per US dollar)
           17.4             29.4            45.8                 48.3              47.7              46.1              44.2              41.6            41.3             38.1              35.5              39.4             44.1
           17.4             20.8            39.0                 47.7              48.3              46.9              43.7              42.6            41.0             40.2              37.3              36.6             42.9


                                   (In millions of US dollars)
         -137.5             -363.9           -184.0            -59.0              -23.6             -64.2             -42.5             109.0             69.0           -286.1              -6.0            -413.6             94.9
          -15.2             -220.7            -88.6              4.0               13.9            -108.3            -132.8            -170.6           -418.7           -886.5          -1,275.8          -1,613.0           -853.0
          630.8              535.1            462.6            510.9              480.3             498.1             590.3             733.2            686.8            906.0           1,337.8           2,141.0          1,961.0
          646.0              755.7            551.1            506.9              466.4             606.4             723.1             903.8          1,105.5          1,792.4           2,613.6           3,754.0          2,814.0
           83.0               86.6             38.4             -6.9               -1.1               4.7              45.5             131.5             42.6            182.0             208.1             377.1            189.6
          169.8              163.8            229.7            205.0              230.0             288.8             364.6             528.2            569.7            764.4           1,107.2           1,149.9          1,493.7
        1,470.0           1,560.8           1,723.6          1,824.9            1,677.7           1,845.4           1,985.6           2,107.6          2,443.0          2,747.3           2,418.0           2,523.7          3,048.0
                          (In months of imports of goods and services)
            2.5                2.1              3.9              3.8                4.7               4.6               5.0               5.6              4.9              4.1              4.2               2.9               4.9
                         (In per cent of exports of goods and services)
           11.5               20.2             26.2             21.7               21.4              14.0              15.7               9.4              7.9              6.6              3.3               2.5               3.2


            4.7           4.8                   4.9               4.9               5.0               5.0               5.0               5.1            5.1              5.2              5.3               5.3               5.4
       30,685.7      34,181.4              48,744.0          65,357.9          73,883.3          75,366.7          83,871.6          94,350.7      100,899.2        113,800.1        141,897.7         187,992.0         196,423.0
          374.0         342.0                 256.9             278.7             308.8             321.6             381.3             434.8          478.7            545.0            723.8             967.8             853.3
           16.5          16.3                  21.7              25.0              23.1              17.9              17.3              19.2           17.3             14.9             13.1              15.2              14.8
           41.2          36.1                  34.9              34.2              34.5              34.4              33.6              29.9           28.5             28.7             26.9              23.5              22.1
           -7.8         -22.2                 -14.7              -4.3              -1.5              -4.0              -2.2               4.9            2.8             -3.1             -0.2              -8.0               2.1
        1,300.2       1,397.0               1,493.9           1,619.9           1,447.7           1,556.6           1,621.0           1,579.4        1,873.3          1,983.0          1,310.8           1,373.8           1,554.3
           83.2          95.1                 137.9             133.2             109.6             114.9             103.3              95.2           99.3             97.0             60.2              45.1              59.6
          217.2         261.0                 326.8             318.6             299.3             288.3             265.3             223.5          258.2            213.8            119.6              83.1             108.1
2010



           -3.5
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


           6.4
           9.0
           na
           na
           na


          -12.0
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



         -239.0
       -1,145.0
        2,064.0
        3,209.0
          228.9
            na
            na

            na

            na


         na
   207,100.0
         na
         na
         na
        -5.4
         na
         na
         na
Latvia
                                                             1989                1990               1991              1992             1993         1994         1995 1996
                                                                                                                                                 Estimate   Projection

Output and expenditure                                                                          (Percentage change in real terms)
GDP                                                           6.8                 2.9             -10.4           -34.9               -14.9          2.2         -0.9           3.6
   Private consumption                                        na                  na                 na              na                 na           3.2          0.6          10.4
   Public consumption                                         na                  na                 na              na                 na          -0.9          7.7          -7.0
   Gross fixed capital formation                              na                  na                 na              na                 na           na           na           22.3
   Exports of goods and services                              na                  na                 na              na                 na          -8.4          3.3          20.3
   Imports of goods and services                              na                  na                 na              na                 na          -0.7          1.3          28.2
Industrial gross output                                       na                  0.8               -0.6          -34.5               -32.1         -7.1          1.6           3.0
Agricultural gross output                                     na                -10.0               -3.9          -15.7               -22.2        -15.0         11.7          -9.8
Employment                                                                                             (Percentage change)
Labour force (end-year)                                       na                   na               -0.8             -4.1              -2.0         -1.5         -1.9           -8.7
Employment (end-year)                                         na                   na               -0.9             -7.3              -6.9        -10.1         -3.5          -11.5

Unemployment (end-year)                                       na                  0.5                0.6               3.9              8.7         16.7         18.1          20.5
Prices and wages                                                                                      (Percentage change)
Consumer prices (annual average)                              4.7                10.5             172.2           951.2              109.2          35.9         35.9          25.0
Consumer prices (end-year)                                    na                  na              262.4           958.6               34.9          26.1         23.3          13.2
Producer prices (annual average)                              na                  na                na          2,554.0              117.1          16.9         11.9          13.7
Producer prices (end-year)                                    na                  na                na               na               36.3          10.7         15.9           7.7
Gross average monthly earnings in economy (annual average)    na                  na               86.3           616.7              119.7          52.2         25.2          10.0
Government sector1                                                                                     (In per cent of GDP)
General government balance                                    na                   na                 na                na               na         -3.9         -1.6          -0.4
General government expenditure 2                              na                   na                 na                na               na         36.6         38.6          36.9
General government debt                                       na                   na                 na                na               na         12.8         15.1          13.9
Monetary sector                                                                                        (Percentage change)
Broad money (M2, end-year)                                    na                   na                 na              na                 na         47.4        -23.1          19.9
Domestic credit (end-year)                                    na                   na                 na              na                 na         72.3        -28.2           6.0

Broad money (M2, end-year)                                    na                   na                 na                   na          28.5         30.1         20.0          20.1
Interest and exchange rates                                                                     (In per cent per annum, end-year)
Refinancing rate                                              na                   na                na               na               27.0         25.0         24.0           9.5
Interbank market rate3                                        na                   na                na               na               56.6         37.8         21.1           9.7
Deposit rate (short-term, under 1 year)                       na                   na                na               na               34.8         30.9         15.6          11.4
Lending rate (short-term, under 1 year)                       na                   na                na               na               86.0         52.0         34.7          24.7

Exchange rate (end-year)                                      na                   na                 na                   na           0.6          0.5          0.5            0.6
Exchange rate (annual average)                                na                   na                 na                   na           0.7          0.6          0.5            0.6
External sector

Current account                                               na                   na                 na                   na         416.8        201.2       -16.2          -279.5
Trade balance                                                 na                   na                 na                   na           3.1       -300.6      -579.6          -798.3
   Merchandise exports                                        na                   na                 na                   na       1,054.4      1,021.7     1,367.6         1,487.6
   Merchandise imports                                        na                   na                 na                   na       1,051.3      1,322.3     1,947.2         2,285.9
Foreign direct investment, net                                na                   na                 na                   na          49.6        279.1       244.6           378.7
Gross reserves, excluding gold (end-year)                     na                   na                 na                   na         431.5        545.2       505.7           622.4
External debt stock4                                          na                   na                 na                   na           na           na      1,537.4         2,091.4
                                                                                                                                                                                       (In
Gross reserves, excluding gold (end-year)                     na                   na                 na                   na           4.1          4.0          2.8            2.5
                                                                                                                                                                                       (In p
Debt service                                                  na                   na                 na                   na            na          4.0          8.4          10.6
Memorandum items                                                                                  (Denominations as indicated)
Population (end-year, million)                                na                  na                na               2.7                2.7          2.6         2.5             2.5
GDP (in millions of lats)                                    52.0                69.2             158.7         1,112.7             1,624.9      2,262.4     2,615.1         3,129.2
GDP per capita (in US dollars)                                na                  na                na               na               903.4      1,537.6     1,980.7         2,299.7
Share of industry in GDP (in per cent)                        na                 35.1              37.1            27.9                27.9         25.4        26.7            25.3
Share of agriculture in GDP (in per cent)                     na                 21.2              22.5            16.5                10.7          9.5         8.0             8.2
Current account/GDP (in per cent)                             na                  na                na               na                17.3          5.0        -0.3            -4.9
External debt - reserves (in US$ million)                     na                  na                na               na                 na           na      1,031.7         1,469.0
External debt/GDP (in per cent)                               na                  na                na               na                 na           na         31.0            36.8
External debt/exports of goods and services (in per cent)     na                  na                na               na                 na           na         73.6            80.0


1                                                                   3
    According to Eurostat                                               Weighted average interest rates in the interbank market.
2                                                                   4
    General government expenditure includes net lending.                Includes non-resident currency and deposits, liabilities to affiliated
                                                                        enterprises and liabilities to direct investors.
1997             1998              1999             2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



          8.3                4.8              3.3              6.9               8.0               6.5               7.2                8.7              10.6              12.2              10.0              -4.2             -18.0
          4.7                0.8              4.0              6.8               7.5               7.1               8.4                9.7              11.2              21.2              14.8              -5.2             -24.0
          3.3               12.5             -0.5             -3.8               2.8               2.2               1.9                2.1               2.7               4.9               3.7               1.5              -9.2
         20.7               61.4             -6.8             10.2              11.4              13.0              12.3               23.8              23.6              16.4               7.5             -13.6             -37.3
         13.1                4.8             -6.4             11.3               7.5               5.4               5.2                9.4              20.2               6.5              10.0               2.0             -15.5
          6.8               19.1             -5.2              3.1              14.3               4.7              13.1               16.6              14.8              19.4              14.7             -11.2             -35.5
         11.6                6.2             -2.5              5.4               8.7               8.8               8.0                8.3               8.4              10.5               6.5              -4.5             -22.8
          9.8               -3.4             -5.5             11.7               8.2               5.6               0.0                3.2               9.5              -5.2               7.8               0.2               3.5


          -2.6              -1.5              -1.8             -2.1              0.7               1.2               0.4                0.5              -0.4               2.3               1.8               1.8              -1.3
           3.7              -0.3              -1.9             -2.3              2.2               2.7               2.0                0.7               1.6               4.4               2.7               0.1             -11.4
                                 (In per cent of labour force)
         15.4               14.3              14.5             14.6             13.3              12.1              10.7               10.6               8.8               7.0               6.2               7.8              17.3


         17.6                8.4              4.7               2.6              2.5               1.9               2.9                6.2               6.7               6.5              10.1              15.4               3.5
          7.0                2.8              3.3               1.9              3.2               1.5               3.6                7.3               7.0               6.8              14.2              10.4              -1.2
          4.1                1.9             -4.0               0.6              1.7               1.0               3.2                8.6               7.8              10.5              16.1              11.8              -4.7
          3.6               -1.9             -1.1               1.0              1.8               0.8               4.1               11.4               7.4              13.4              13.0               9.3              -8.0
         21.2               10.8              6.0               6.4              6.0               8.8              11.0                9.9              16.6              22.8              31.8              20.4              -3.8


          1.1                0.0             -3.9             -2.8              -2.1              -2.3              -1.6               -1.0              -0.4              -0.5              -0.3              -4.1             -10.2
         36.3               40.2             41.8             37.3              34.6              35.6              34.8               35.8              35.6              38.1              35.7              38.8              43.9
         11.1                9.6             12.5             12.3              14.0              13.5              14.6               14.9              12.4              10.7               9.0              19.7              36.7


         38.7                5.9              8.0             27.9              20.8              18.4              21.7               26.9              38.7              39.7              14.4              -4.4              -2.8
         39.3               30.6             15.2             43.6              35.6              39.8              39.3               40.0              67.6              53.4              32.9              17.9             -10.5
                                    (In per cent of GDP)
         24.0               23.2             23.4             26.9              29.5              31.7              34.7               37.9              43.1              48.8              42.2              36.8              44.3


          4.0                4.0               4.0             3.5               3.5               3.0               3.0                4.0               4.0               5.0               6.0               6.0               4.0
          3.9                7.0               2.7             3.3               5.4               2.7               3.2                3.5               2.7               2.3               5.1               5.7               1.4
          5.7                5.3               5.3             4.4               5.3               3.2               3.0                3.3               2.8               3.6               6.2               6.3               8.0
         14.0               14.2             13.9             12.1              10.8               7.5               5.4                7.5               5.9               7.2              10.0              11.1              14.4
                                     (Lats per US dollar)
           0.6               0.6               0.6              0.6              0.6               0.6               0.5                0.5               0.6               0.5               0.5               0.5               0.5
           0.6               0.6               0.6              0.6              0.6               0.6               0.6                0.5               0.6               0.6               0.5               0.5               0.5


                                  (In millions of US dollars)
        -345.2             -649.9            -653.6           -371.0           -626.2            -624.7            -920.7          -1,761.7          -1,992.6          -4,522.0          -6,423.8          -4,492.1           2,282.7
        -847.9           -1,130.4          -1,027.1        -1,043.7          -1,335.5          -1,478.9          -2,003.2          -2,780.4          -3,018.3          -5,130.7          -6,898.1          -6,013.7          -1,821.9
       1,838.1            2,011.1           1,889.1         2,079.6           2,242.9           2,544.8           3,170.3           4,221.0           5,360.9           6,140.3           8,227.1           9,634.2           7,386.8
       2,686.0            3,141.5           2,916.1         3,123.3           3,578.4           4,023.7           5,173.5           7,001.4           8,379.2          11,271.0          15,125.2          15,647.9           9,208.7
         515.0              302.5             330.6            400.0            114.3             250.2             253.6             527.5             585.2           1,491.3           1,945.0           1,091.5             150.3
         704.0              728.2             840.2            850.9          1,148.7           1,241.4           1,432.4           1,912.0           2,231.9           4,353.3           5,553.4           5,028.1           6,603.6
       2,755.6            3,098.8           3,820.4         4,759.7           5,571.2           7,043.1           9,400.0          13,448.5          15,179.0          23,769.0          38,966.0          42,258.0          41,908.7
                        (In months of imports of goods and services)
           2.5                2.2               2.8              2.7             3.2               3.2               2.8                2.8               2.7               3.9               3.7               3.2               6.9
                        (In per cent of exports of goods and services)
         11.1                10.7              14.3             15.1            20.6              15.9              19.9               21.4              36.4              39.8              27.2              29.6              42.2


           2.4               2.4              2.4               2.4              2.4               2.3               2.3                2.3               2.3               2.3               2.3               2.3               2.3
       3,631.9           3,971.2          4,265.0           4,750.8          5,219.9           5,758.3           6,392.8            7,434.5           9,059.1          11,171.7          14,779.8          16,188.2          13,082.8
       2,556.8           2,780.4          3,038.7           3,294.8          3,518.5           3,971.5           4,798.0            5,934.6           6,951.7           8,687.8          12,609.5          14,858.7          11,436.7
          26.1              24.2             22.0              21.1             20.8              20.5              20.0               19.9              19.1              19.3              20.5              20.7              18.6
           5.6               4.4              4.3               4.9              4.7               4.1               3.7                4.0               3.5               3.1               3.2               2.7               2.8
          -5.5              -9.7             -9.0              -4.7             -7.5              -6.7              -8.2              -12.8             -12.4             -22.7             -22.3             -13.3               8.8
       2,051.6           2,370.6          2,980.2           3,908.8          4,422.5           5,801.7           7,967.6           11,536.5          12,947.1          19,415.7          33,412.6          37,229.9          35,305.1
          44.1              46.0             52.4              60.8             67.0              75.6              84.0               97.7              94.7             119.2             135.5             125.2             161.9
          96.0              99.3            131.1             147.4            162.8             186.2             201.0              224.1             201.7             270.6             326.6             298.2             373.1
2010



           -1.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


           -2.5
            1.3
            na
            na
            na


           -8.0
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



        1,244.4
       -1,200.0
        8,400.0
        9,600.0
          300.0
            na
            na

            na

            na


            na
       12,628.2
            na
            na
            na
            5.0
            na
            na
            na
Lithuania
                                                             1989                1990              1991             1992               1993       1994         1995 1996
                                                                                                                                               Estimate   Projection

Output and expenditure                                                                          (Percentage change in real terms)
GDP                                                           1.5                 -5.0              -5.7          -21.3               -16.2       -9.8          1.2             5.1
   Private consumption                                        na                   na                na              na                 na         na           na              6.5
   Public consumption                                         na                   na                na              na                 na         na           na              2.6
   Gross fixed capital formation                              na                   na                na              na                 na         na           na             21.1
   Exports of goods and services                              na                   na                na              na                 na         na           na             19.0
   Imports of goods and services                              na                   na                na              na                 na         na           na             23.3
Industrial gross output                                       na                   na             -26.4           -28.5               -34.4      -26.5          5.3             5.0
Agricultural gross output                                     2.0                 -9.0              -6.0          -23.0                -6.0       -8.4          2.6            -1.2
Employment1                                                                                           (Percentage change)
Labour force (end-year)                                       na                   na               2.7             -1.2               -1.1        -6.4         0.7            -2.1
Employment (end-year)                                         na                  -2.7              2.4             -2.2               -4.2        -5.8        -1.9            -0.7

Unemployment (end-year)                                       na                   na               0.3              1.3                4.4        3.8         17.5            16.4
Prices and wages                                                                                      (Percentage change)
Consumer prices (annual average)                              2.1                 8.4             224.7         1,020.5              410.4        72.1         39.6            24.6
Consumer prices (end-year)                                    na                  na              345.0         1,161.1              188.8        45.0         35.7            13.1
Producer prices (annual average)                              na                  na              148.2         1,514.7              392.0        44.8         28.3            16.5
Producer prices (end-year)                                    na                  na                na          2,407.1              131.6        33.8         20.3            12.3
Gross average monthly earnings in economy (annual average)    na                 21.1             129.1           651.7              -96.8        95.9         47.8            28.5
Government sector2                                                                                    (In per cent of GDP)
General government balance                                    na                   na                na                na             -5.5        -4.8         -1.6            -3.3
General government expenditure 3                              na                   na                na                na             37.1        37.2         35.7            37.4
General government debt                                       na                   na                na                na              na          na           na             14.3
Monetary sector                                                                                       (Percentage change)
Broad money (M2, end-year)                                    na                 55.4             143.0           245.9              100.1        65.0         29.1            -3.1
Domestic credit (end-year)                                    na                  na                na               na                na         77.7         19.7            -0.7

Broad money (M2, end-year)                                    na                118.5              93.1             39.2              24.1        26.0         21.9            16.8
Interest and exchange rates                                                                     (In per cent per annum, end-year)
Interbank interest rate                                       na                   na                na               na               na          na           na              na
Treasury bill rate (3-month maturity)                         na                   na                na               na               na         20.6         22.4            10.6
Deposit rate4                                                 na                   na                na              42.3             19.7         7.6          7.4             4.3
Lending rate5                                                 na                   na                na             120.2             88.2        22.1         10.4            14.7

Exchange rate (end-year)                                      na                  na               17.0              3.8                3.9        4.0          4.0             4.0
Exchange rate (annual average)                                6.2                 5.9              33.7              1.8                4.3        4.0          4.0             4.0
External sector

Current account                                               na                   na                na              na               -85.7      -94.0      -614.4           -722.7
Trade balance                                                 na                   na                na              na              -154.8     -204.9      -698.0           -896.2
   Merchandise exports                                        na                   na                na              na             2,025.8    2,029.2     2,706.1          3,413.1
   Merchandise imports                                        na                   na                na              na             2,180.5    2,234.1     3,404.1          4,309.3
Foreign direct investment, net6                               na                   na                na              na                30.2       31.3        71.6            152.3
Gross reserves, excluding gold (end-year)                     na                   na                na            107.2              412.3      587.2       819.0            834.3
External debt stock7                                          na                   na                na              na                 na       529.0     1,374.1          2,400.6
                                                                                                                                                                                      (In
Gross reserves, excluding gold (end-year)                     na                   na                na               na                2.0        2.7          2.5             2.0
                                                                                                                                                                                      (In p
Debt service                                                  na                   na                na               na                na         2.4          3.8             7.0
Memorandum items                                                                                  (Denominations as indicated)
Population (end-year, million)                                3.7                 3.7               3.7              3.7            3.8            3.8         3.7              3.6
GDP (in millions of litai)                                    na                134.1             414.7         3,405.8        11,075.3       16,980.7    25,956.5         32,739.7
GDP per capita (in US dollars)                                na                  6.2               3.3           512.4           674.7        1,132.6     1,746.8          2,272.6
Share of industry in GDP (in per cent)                        na                  na               55.7            46.6            33.4           25.5        29.2             27.7
Share of agriculture in GDP (in per cent)                     na                  na               19.2            25.2            13.9           10.1        10.2             11.2
Current account/GDP (in per cent)                             na                  na                na               na            -3.4           -2.2        -9.5             -8.8
External debt - reserves (in US$ million)                     na                  na                na               na             na           -58.2       555.1          1,566.3
External debt/GDP (in per cent)                               na                  na                na               na             na            12.4        21.2             29.3
External debt/exports of goods and services (in per cent)     na                  na                na               na             na            22.5        43.1             57.0


1                                                                   5
    Data based on the population census.                                Average interest rate on loans in litai.
2                                                                   6
    According to Eurostat                                               Covers equity capital and reinvested earnings.
3                                                                   7
    General government expenditure includes net lending.                Includes non-resident currency and deposits and loans to
4
    Average interest rate on demand deposits in litai.                  foreign subsidiaries.
1997              1998              1999              2000               2001              2002              2003              2004              2005              2006              2007              2008              2009



            8.5               7.5              -1.5                4.2               6.7               6.9              10.2               7.4               7.8               7.8               9.8               2.8             -14.8
            5.6               4.8               4.1                5.7               4.2               6.0              10.4              11.9              12.2              10.6              12.1               3.6             -16.8
            6.8               6.2              -8.2                8.8               2.6               1.1               4.1               8.2               3.5               3.7               3.2               7.9              -1.2
           25.5              21.1              -5.9               -9.0              13.3              10.6              13.7              15.7              11.2              19.4              23.0              -6.5             -39.1
           18.8               4.7             -16.4                9.5              21.2              19.4               6.9               4.4              17.7              12.0               3.0              12.2             -14.3
           25.0               6.2             -12.4                4.8              17.6              17.7              10.4              14.9              16.4              13.7              10.7              10.5             -29.4
            3.3               8.2             -11.2                5.3              15.9               6.0              17.2               9.9               7.7              10.6               8.2               1.0             -21.6
            5.8               1.1              -2.6                0.9              -4.4               8.2               7.4              -0.5               2.0             -10.0              13.1               0.5               3.1


           -5.7              -6.1              -0.6             -2.0                -2.1              -0.3               0.7              -1.3              -0.9              -1.2               0.9               0.7               1.7
           -3.1              -5.2              -2.2             -4.0                -3.3               4.0               2.3              -0.1               2.6               1.7               2.3              -0.9              -6.8
                                  (In per cent of labour force)
           14.1              13.2              14.6             16.4                17.4              13.8              12.4              11.4               8.3               5.6               4.3               5.8              13.7


            8.9               5.1               0.8                1.0               1.5               0.3              -1.1               1.2               2.7               3.8               5.7              11.0               4.2
            8.5               2.4               0.3                1.5               2.1              -1.0              -1.3               2.9               3.0               4.5               8.1               8.5               1.3
            6.0              -3.9               1.7               16.0              -3.0              -2.8              -0.4               6.1              11.4               7.6               7.0              18.5             -13.0
            0.9              -8.9              19.5                2.6              -7.8               1.9              -0.2               6.8              13.5               2.8              19.4              -6.9               1.4
           25.9              19.5               5.9               -1.4               1.2               3.2               5.8               7.2              11.0              17.2              20.5              19.4              -4.4


          -11.9              -3.1              -2.8               -3.2              -3.6              -1.9              -1.3              -1.5              -0.5              -0.4              -1.0              -3.3              -9.2
           50.3              40.4              40.1               39.1              36.8              34.7              33.2              33.3              33.3              33.6              34.8              37.4              43.6
           15.6              16.6              22.8               23.7              23.1              22.3              21.1              19.4              18.4              18.0              16.9              15.6              29.6


           35.1              13.5              7.6                17.0              21.3              19.4              19.4              21.4              31.9              21.5              21.4              -0.4               0.7
           32.1              16.7              3.9                 6.1              25.6              22.7              37.8              32.0              56.1              34.9              40.6              17.4              -7.1
                                     (In per cent of GDP)
           18.6              18.9             20.8                23.3              26.6              29.6              32.3              35.7              40.9              43.3              44.1              38.9              47.7


            na                na                 7.7              10.4               5.5              10.0               4.3               3.0               3.3               4.5               5.0               3.0               1.8
            9.1              11.5              12.3                9.3               5.7               3.3               2.5               2.3               2.6               3.2               4.5               5.8               6.2
            1.9               2.4                1.6               3.9               3.0               1.7               1.3               1.2               2.4               3.0               5.4               7.6               4.8
           10.9               9.5              10.1               12.1               9.6               6.8               5.8               5.7               5.3               5.1               6.9               8.4               8.1
                                      (Litai per US dollar)
            4.0               4.0                4.0               4.0               4.0               3.3               2.7               2.5               2.8               2.6               2.3               2.5               2.4
            4.0               4.0                4.0               4.0               4.0               3.7               3.1               2.8               2.7               2.8               2.5               2.4               2.5


                                   (In millions of US dollars)
         -981.5           -1,298.1          -1,194.1           -674.8             -573.7            -733.9          -1,278.5          -1,724.4          -1,831.4          -3,218.4          -5,692.3          -6,357.5           1,648.1
       -1,147.5           -1,518.4          -1,404.6        -1,103.8            -1,108.0          -1,336.8          -1,704.3          -2,382.3          -2,916.3          -4,209.6          -5,873.7          -6,209.2          -1,153.9
        4,192.4            3,961.6           3,146.7         4,050.4             4,888.9           6,030.7           7,658.2           9,305.3          11,775.8          14,151.8          17,161.6          23,751.8          16,485.4
        5,339.9            5,480.0           4,551.3         5,154.2             5,996.9           7,367.6           9,362.5          11,687.6          14,692.0          18,361.4          23,035.3          29,961.0          17,639.2
          327.5              921.4             477.8            375.2              438.7             714.5             142.0             510.4             689.0           1,550.7           1,408.6           1,714.8             -50.0
        1,062.7            1,460.0           1,242.1         1,372.2             1,685.2           2,430.6           3,485.4           3,519.0           3,919.4           5,672.1           7,593.1           6,319.7           6,482.0
        3,299.3            3,794.9           4,540.1         4,856.6             5,268.0           6,198.8           8,337.8          10,471.6          12,560.3          18,957.1          30,097.4          32,450.5          33,196.9
                         (In months of imports of goods and services)
            2.0                2.8               2.8              2.8                3.0               3.5               3.9               3.2               2.8               3.3               3.4               2.2               3.8
                         (In per cent of exports of goods and services)
           10.7               18.2              20.5             20.5               15.3              14.8              16.6              14.9              16.6              16.9              17.5              18.1               na


            3.6               3.5               3.5                3.5               3.5               3.5               3.5               3.4               3.4               3.4               3.4            3.4                  3.3
       39,997.6          44,698.6          43,666.7           45,736.8          48,636.9          52,070.0          56,959.4          62,697.9          72,060.4          82,792.8          98,669.1      111,482.6             91,525.9
        2,797.0           3,148.4           3,097.6            3,263.9           3,489.4           4,085.5           5,391.4           6,564.8           7,731.4           8,861.5          11,586.7       14,071.4             11,023.1
           27.2              27.5              26.6               26.4              27.3              26.4              28.3              29.9              29.7              29.6              29.2           28.1                 24.1
            9.5               7.7               6.4                5.6               4.9               4.8               4.5               4.2               4.4               3.9               3.5            3.9                  3.8
           -9.8             -11.6             -10.9               -5.9              -4.7              -5.2              -6.9              -7.6              -6.9             -10.7             -14.6          -13.5                  4.5
        2,236.5           2,335.0           3,298.0            3,484.4           3,582.8           3,768.1           4,852.4           6,952.6           8,640.9          13,285.0          22,504.3       26,130.8             26,715.0
           33.0              34.0              41.6               42.5              43.4              43.7              44.8              46.4              47.6              63.0              77.0           68.7                 90.2
           63.2              74.8             107.1               95.1              87.1              82.5              87.4              89.1              84.4             106.6             142.1          113.8                164.4
2010



            0.5
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            1.0
            2.0
            na
            na
            na


           -7.2
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



         -750.0
         -900.0
       17,800.0
       18,700.0
          150.0
            na
            na

            na

            na


            na
       92,903.4
            na
            na
            na
           -2.1
            na
            na
            na
Moldova
                                                                               1989                1990              1991            1992           1993      1994           1995 1996
                                                                                                                                                           Estimate     Projection

Output and expenditure                                                                                          (Percentage change in real terms)
GDP                                                                             na                  na               na              na              na         na            0.0           -5.9
   Private consumption                                                          na                  na               na              na              na         na            0.4           11.2
   Public consumption                                                           na                  na               na              na              na         na           24.3           -2.5
   Gross fixed capital formation                                                na                  na               na              na              na         na          -14.9           -8.3
   Exports of goods and services                                                na                  na               na              na              na         na           25.5           13.9
   Imports of goods and services                                                na                  na               na              na              na         na           27.7           29.7
Industrial gross output                                                         na                  na               na              na              na         na           -3.9           -6.5
Agricultural gross output                                                       na                  na               na              na              na         na            2.0          -12.0
Employment                                                                                                             (Percentage change)
Labour force (end-year)                                                         na                  na                na              na             na         na             na            na
Employment (end-year)                                                           na                  na                na              na             na         na             na           -0.8

Unemployment (end-year)1                                                        na                  na                na               na            na         na             na            na
Prices and wages                                                                                                       (Percentage change)
Consumer prices (annual average)                                                na                  na                na              na             na         na           29.9          23.5
Consumer prices (end-year)                                                      na                  na                na              na             na         na           23.8          15.1
Producer prices (annual average)                                                na                  na                na              na             na         na           54.0          32.0
Producer prices (end-year)                                                      na                  na                na              na             na         na           46.6          20.4
Gross average monthly earnings in economy (annual average)                      na                  na                na              na             na         na            na           30.7
Government sector                                                                                                      (In per cent of GDP)
General government balance2                                                     na                  na                na                na           na         na            na             na
General government expenditure 2                                                na                  na                na                na           na         na            na             na
General government debt3                                                        na                  na                na                na           na         na            0.0            0.1
Monetary sector                                                                                                        (Percentage change)
Broad money (M2, end-year)                                                      na                  na                na              na             na         na             na          16.7
Domestic credit (end-year)                                                      na                  na                na              na             na         na             na          18.8

Broad money (M2, end-year)                                                      na                  na                na               na            na         na            0.0            0.0
Interest and exchange rates                                                                                     (In per cent per annum, end-year)
Refinancing rate                                                                na                  na               na               na             na         na            6.7           6.7
Interbank interest rate (up to 30-days maturity)                                na                  na               na               na             na         na            na            na
Deposit rate (1 year)                                                           na                  na               na               na             na         na            na           25.4
Lending rate (1 year)                                                           na                  na               na               na             na         na            na            na

Exchange rate (end-year)                                                        na                  na                na               na            na         na            4.5            4.7
Exchange rate (annual average)                                                  na                  na                na               na            na         na            4.5            4.6
External sector

Current account                                                                 na                  na                na              0.0            0.0       0.0            0.0            0.0
Trade balance                                                                   na                  na                na              0.0            0.0       0.0         -101.7         -249.4
   Merchandise exports                                                          na                  na                na              0.0            0.0       0.0          739.0          822.9
   Merchandise imports                                                          na                  na                na              0.0            0.0       0.0          840.7        1,072.3
Foreign direct investment, net                                                  na                  na                na              0.0            0.0       0.0           -0.1           -0.8
Gross reserves, excluding gold (end-year)                                       na                  na                na              0.0            0.0       0.0          257.0          312.0
External debt stock                                                             na                  na                na              0.0            0.0       0.0          668.0        1,065.0
                                                                                                                                                                                                   (In
Gross reserves, excluding gold (end-year)                                       na                  na                na               na            na         na            2.9            3.0
                                                                                                                                                                                                   (In p
Debt service                                                                    na                  na                na               na            na         na            9.9            5.6
Memorandum items                                                                                                    (Denominations as indicated)
Population (end-year, million) 4                                                na                  na                na               na            na        na             na             na
GDP (in millions of lei)                                                        na                  na                na               na            na        na     6,479,715.0    7,797,562.0
GDP per capita (in US dollars)                                                  na                  0.0               0.0              0.0           0.0       0.0            0.0            0.0
Share of industry in GDP (in per cent)                                          na                  na                na               na            na        na            28.5           26.9
Share of agriculture in GDP (in per cent)                                       na                  na                na               na            na        na            29.2           27.5
Current account/GDP (in per cent)                                               na                  na                na               na            na        na             na             na
External debt - reserves (in US$ million)                                       na                  na                na               0.0           0.0       0.0          411.0          753.0
External debt/GDP (in per cent)                                                 na                  na                na               na            na        na             0.0            0.1
External debt/exports of goods and services (in per cent)                       na                  na                na               na            na        na            77.2          113.7


1                                                                                     3
    According to ILO methodology.                                                         Includes public and publicly guaranteed debt.
2                                                                                     4
    General government includes the state, local government, social security              Excluding Transnistria.
    and healthcare.
1997             1998              1999             2000              2001              2002             2003             2004             2005             2006             2007             2008             2009



          1.6               -6.5             -3.4              2.1                6.1             7.8               6.6              7.4             7.5              4.8               3.0             7.8              -6.5
          5.0                5.1            -13.8             27.6                6.1             5.9              18.5              6.2            10.1              7.0               3.6             4.5              -7.9
         12.7              -18.9            -28.1            -17.9               -5.8            31.4               3.2            -16.2             6.3              5.3               5.2             5.0               1.9
         -0.2                1.5            -14.7             -0.7                5.2             1.1              13.5             10.5            11.0             15.1              22.0            -0.9             -37.2
         21.3              -22.1            -22.7              6.8               17.2            18.9              19.2             11.0            17.7              2.8              10.5            -7.8              -7.8
         23.0              -11.0            -36.4             29.8               11.8            15.8              28.7              3.6            18.1             10.3              14.6            -6.1             -19.3
          0.0              -15.0            -11.6              7.7               13.7            10.8              15.6              8.2             7.0             -4.8              -1.3             0.7             -22.2
         11.4              -11.6             -8.4             -3.3                6.4             3.4             -13.6             20.8             0.8             -1.1             -23.1            32.1              -9.9


           na                na                1.4             -1.6              -2.3             -0.1             -8.8             -2.8             -0.7             -4.6             -3.2             -0.8             -2.9
          -0.8              -0.2              -9.0              1.4              -1.0              0.4             -9.9             -3.0              0.2             -4.7             -0.8              0.3             -5.3
                                 (In per cent of labour force)
           na               10.1              11.1              8.5               7.3              6.8              7.9              8.1              7.3              7.4              5.1              4.0              6.4


         11.8                7.7             39.3             31.3                9.8             5.3             11.7             12.5             12.0             12.8             12.4             12.8              -0.1
         11.2               18.3             43.7             18.4                6.3             4.4             15.7             12.5             10.2             14.0             13.3              7.2               0.5
         20.0                9.7             44.0             28.5               12.3             4.7              7.8              5.6              5.3             12.2             26.5             10.5              -3.0
         13.6               13.6             58.6             24.3                5.7             6.7              9.2              3.6              6.9             12.4             28.6              3.3               1.1
         17.5               13.9             21.6             33.9               33.3            27.2             28.8             23.8             19.5             28.7             21.6             22.6               8.7


           na                0.0              0.0         -1.8         0.0         0.0         0.0         0.0         0.0         0.0         0.0         0.0         0.0
           na                0.0              0.0          0.0         0.0         0.0         0.0         0.0         0.0         0.0         0.0         0.0         0.0
           0.1               0.1              0.1 ########### ########### ########### ########### ########### ########### ########### ########### ########### ###########


         34.6              -21.9             33.4             38.8               37.8            30.4             24.4             44.7             36.7             12.2             47.3             18.4              -3.8
         26.8               29.2             18.1             14.4               29.6            25.2             24.3             25.8             15.8             30.1             39.0             16.6               na
                                    (In per cent of GDP)
           0.0               0.0              0.0              0.0                0.0              0.0              0.0              0.0              0.0              0.0              0.0              0.0              0.0


          6.3               11.7             15.9             16.1               16.5            18.8             19.6             19.4             18.3             19.4             17.9             16.0             19.3
         28.1               30.9             32.6             20.8               11.0             5.1             11.5             13.2              5.9              9.5             12.2             15.6              na
         23.5               21.7             27.5             24.9               20.9            14.2             12.6             15.1             13.2             11.9             15.0             17.9             14.9
          na                22.0             20.4             17.1               14.2            12.3             11.0             11.4             11.1             11.1             10.9             12.1             12.6
                                     (Lei per US dollar)
           4.7               8.3             11.6             12.4               13.1            13.8             13.2             12.5             12.8             12.9             11.3             10.4             12.3
           4.6               5.4             10.5             12.4               12.9            13.6             13.9             12.3             12.6             13.1             12.1             10.4             11.1


                                  (In millions of US dollars)
        -208.5             -326.7            -42.9            -109.6           -36.4           -83.5           -118.7            -84.6           -236.0           -446.8            -718.8           -512.3           -486.5
        -281.6             -380.0           -112.1            -304.9          -324.6          -394.6           -613.6           -792.6         -1,201.7         -1,641.6          -2,348.1         -2,746.2         -1,990.8
         889.6              643.6            474.3             471.5           568.1           643.9            789.2            980.2          1,091.3          1,051.6           1,341.8          1,334.7          1,287.5
       1,171.3            1,023.6            586.4             776.4           892.7         1,038.5          1,402.8          1,772.8          2,293.0          2,693.2           3,689.9          4,080.9          3,278.3
          -1.9               -7.0            -11.6              -2.7            20.7            13.6            -24.7            -49.5            -44.9           -107.8            -182.2           -152.7           -145.4
         366.0              143.6            185.7       222,643.3         228,535.5       268,859.2        302,270.6        470,259.4        597,437.7        775,291.1       1,333,687.0      1,672,407.7      1,480,254.4
       1,285.0            1,451.0          1,495.0          1,720.6          1,675.1         1,814.9          1,930.4          1,883.8          2,080.0          2,530.9           3,355.9          4,106.8          4,368.0
                        (In months of imports of goods and services)
           3.2                1.4               2.9         2,731.8           2,489.7          2,490.4          2,130.5          2,654.5          2,642.9          2,924.9          3,703.8          4,091.8          4,460.6
                        (In per cent of exports of goods and services)
         13.0                25.0             32.5              24.3             24.6            27.9             18.7             21.0             16.5             18.7             13.3             20.3             27.0


          na           3,652.0           3,646.0          3,639.0             3,631.0         3,623.0          3,612.0          3,603.0          3,595.0          3,585.0          3,577.0          3,570.0          3,566.0
  8,916,975.0      9,122,112.9      12,321,554.0     16,019,558.0        19,051,531.0    22,555,858.0     27,618,918.0     32,031,777.0     37,651,869.0     44,754,367.0     53,429,571.0     62,921,545.0     60,043,308.0
          0.0            465.1             321.4              0.0                 0.0             0.0              0.0              0.0              0.0              0.0              0.0              0.0              0.0
         25.0             19.8              20.3             19.0                21.8            20.2             20.5             20.5             19.1             18.7             19.1             18.8              na
         25.9             25.8              24.9             25.4                22.4            21.0             18.3             17.5             16.4             14.5             10.0              8.8              na
          0.0              0.0               0.0              na                  na              na               na                na              na               na                na              na               na
        919.0          1,307.4           1,309.3       -220,922.6          -226,860.5      -267,044.3       -300,340.2       -468,375.6       -595,357.7       -772,760.2     -1,330,331.0     -1,668,300.8     -1,475,886.4
          0.1              0.1               0.1              na                  na              na               na                na              na               na                na              na               na
        121.5            182.4             245.1            270.5               226.7           210.9            185.0            143.6            139.6            166.8            170.6            189.1            222.6
2010



###########
         na
         na
         na
         na
         na
         na
         na


         na
         na

         na


        na
        0.0
        na
        na
        na


         na
         na
         na


         na
         na

         na


         na
         na
         na
         na

         na
         na



        0.0
        0.0
        0.0
        0.0
        0.0
        na
        na

         na

         na


         na
         na
         na
         na
         na
         na
         na
         na
         na
Mongolia
                                                                                    1989                1990             1991             1992             1993      1994         1995 1996
                                                                                                                                                                  Estimate   Projection

Output and expenditure                                                                                                (Percentage change in real terms)
GDP                                                                                  4.2                 -2.5             -9.2            -9.5             -2.9       2.3          6.3          2.4
Industrial gross output                                                              5.4                  0.3           -12.6           -17.7             -12.8       2.1         17.4         -2.0
Agricultural gross output                                                            7.7                 -1.3           -15.4              9.5             -3.0       2.7          9.5          4.7
Employment                                                                                                                  (Percentage change)
Labour force (end-year)1                                                              na                 4.4              2.6             1.0              -1.8       2.0         -2.5          0.9
Employment (end-year)                                                                 na                 2.6              1.5             1.3              -4.1       1.8          1.0         -0.4

Unemployment (end-year)2                                                             3.8                 5.5              6.5              6.3              8.5       8.7          5.4          6.5
Prices and wages                                                                                                            (Percentage change)
Consumer prices (annual average)                                                      na                  na              na               na             268.4      87.6         56.8         46.9
Consumer prices (end-year)                                                            na                  na             52.7           325.5             183.0      66.3         53.3         44.6
Producer prices (annual average)                                                      na                  na              na               na               na        na           na           na
Producer prices (end-year)                                                            na                  na              na               na               na        na           na           na
Gross average monthly earnings in economy (annual average)                            na                  na              na               na               na        na          66.1         37.9
Government sector                                                                                                           (In per cent of GDP)
General government balance3                                                           na                  na            -12.7               0.7            -5.9      -9.9         -4.5         -6.5
                               3
General government expenditure                                                        na                  na             47.1              24.5            38.9      33.0         27.4         28.4
                        4
General government debt                                                               na                  na              na               27.2            62.7      46.3         33.5         41.5
Monetary sector                                                                                                             (Percentage change)
Broad money (M2, end-year)                                                            na                  na               na            31.6             227.6      80.0         32.6         17.2
Domestic credit (end-year)                                                            na                  na               na            60.2              51.9      56.0          0.6         82.3

Broad money (M2, end-year)                                                            na                  na             52.4             27.6             25.7      20.6         16.1         16.1
Interest and exchange rates                                                                                           (In per cent per annum, end-year)
Central bank bills rate                                                               na                 na                na               na            628.8     180.0       150.0         109.0
Deposit rate 5                                                                        na               300.0            400.0             262.5           280.2     115.7        74.6          44.8
Lending rate 5                                                                        na                 na                na               na            300.0     279.2       134.4          87.9

Exchange rate (end-year)                                                             3.8                14.0             39.4            105.1            396.5     414.1       473.6         693.5
Exchange rate (annual average)                                                       3.1                 5.6              9.5             42.6            303.2     412.7       448.6         548.4
External sector

Current account                                                                  -1,228.7             -639.5           -104.2            -55.7             22.7      37.6        24.5         -37.5
Trade balance                                                                      -963.1             -496.9           -101.1            -29.1             21.3      -3.5        -3.0         -88.0
   Merchandise exports                                                              795.8              444.8            346.5            355.8            365.8     367.0       486.0         423.0
   Merchandise imports                                                            1,758.9              941.7            447.6            384.9            344.5     370.5       489.0         511.0
Foreign direct investment, net                                                        0.0                0.0              0.0              2.0              7.7       7.0         9.8          15.9
Gross reserves, excluding gold (end-year)                                             na                 na               na              16.4             59.7      81.4       115.0          98.0
External debt stock                                                                   na                 na               na             355.0            388.0     473.7       503.8         542.2
                                                                                                                                                                                                      (In
Gross reserves, excluding gold (end-year)                                             na                  na               na              0.4              1.7       2.3          2.5          2.1
                                                                                                                                                                                                      (In p
Debt service                                                                          na                  na               na               na             17.4       6.4         12.1          8.6
Memorandum items                                                                                                        (Denominations as indicated)
Population (end-year, million)                                                       2.1                 2.1              2.3              2.3              2.3       2.4         2.4           2.4
GDP (in billions of togrog)                                                         10.7                10.5             18.9            47.3             166.2     372.9       632.6         743.3
GDP per capita (in US dollars)                                                   1,684.9               881.8            880.8           483.2             234.3     381.3       590.0         560.1
Share of industry in GDP (in per cent)                                               na                  na               na               na               na        na          na            na
Share of agriculture in GDP (in per cent)                                            na                  na               na               na               na        na          na            na
Current account/GDP (in per cent)                                                  -35.2               -34.4             -5.2            -5.0               4.1       4.2         1.7          -2.8
External debt - reserves (in US$ million)                                            na                  na               na            338.7             328.3     392.3       388.8         444.2
External debt/GDP (in per cent)                                                      na                  na               na             31.9              70.8      52.4        35.7          40.0
External debt/exports of goods and services (in per cent)                            na                  na               na             90.9              99.0     116.4        95.3         113.3


1                                                                                           4
    Economically active population registered at the employment registration                    Direct and assumed debt of the central government and loans
    office.                                                                                     guaranteed by the government.
2                                                                                           5
    Officially registered.                                                                      Weighted average over all maturities.
3
    General government revenue and expenditure include grants and net lending.
1997           1998              1999             2000              2001             2002             2003             2004             2005             2006             2007             2008             2009



         4.0               3.5              3.2              1.1               1.0              4.0              5.9            10.1              7.3               8.6            10.2               8.9             -1.6
         4.4               3.3              1.1              1.1               0.6              1.5              3.0            15.0              9.6               7.0             6.9               1.5              na
         4.8               3.1              4.2              1.6               1.0              5.0              3.7            17.7             10.7               7.5            15.8               5.0              na


        -2.2               1.6               1.3             -0.7              2.9              3.3              6.4              2.7              1.5              4.2              1.1              1.7              6.2
        -3.4               3.6               2.6             -0.6              2.9              4.6              6.4              2.6              1.9              4.3              1.4              1.7             -3.4
                               (In per cent of labour force)
         7.7               5.9               4.7              4.6              4.6              3.4              3.5              3.6              3.3              3.2              2.8              2.8            11.6


        36.6               9.4              7.6             11.6               8.0              0.3             5.1              8.3             12.7              5.1             11.7             28.0               7.5
        20.5               6.0             10.0              8.1               8.0              1.7             4.7             11.0              9.5              8.3             17.8             22.1               4.1
         na                na               na               na                na               na              na               na               na               na               na               na                na
         na                na               na               na                na               na              na               na               na               na               na               na                na
        34.8              26.5             14.3             33.5               4.7              9.4            22.0             30.4              5.4             26.2             35.5             58.5               9.6


        -7.9             -12.4            -10.6             -6.1             -4.7             -5.2             -3.7             -1.9              2.6              8.1              2.9             -4.9             -5.4
        30.0              36.4             34.3             36.0             38.2             39.0             37.1             35.0             27.5             33.3             38.0             41.0             38.3
        53.9              70.9             86.7             84.5             78.4             75.8             87.7             72.2             56.6             43.0             36.4             31.9             53.2


        42.2              -1.7             31.6             17.6             27.9             42.0             49.6             20.4             34.6             34.8             56.3             -5.5             26.9
       -25.5             102.4            -14.3            -27.3             47.7             59.7            157.3             25.8             18.8             -3.1             78.4             55.1             -6.0
                                  (In per cent of GDP)
        17.8              17.8             20.7             22.1             25.8             33.3             42.4             39.3             41.0             41.4             52.2             37.7             47.6


        45.5              23.3          11.4              8.7                 8.6              9.9             11.5             15.8              4.8              8.4              8.4              9.8             10.0
        26.4              27.5          23.4             16.8                14.3             13.2             14.0             13.2             12.6             13.5             13.4             11.7             13.3
        82.1              46.8          39.3             32.8                30.2             28.4             25.5             31.5             30.6             26.9             21.8             20.6             21.7
                               (Togrog per US dollar)
       813.2             902.0       1,072.4          1,097.0              1,101.3          1,122.2          1,168.3          1,211.8          1,221.0          1,165.0          1,170.0          1,267.0          1,442.8
       790.0             840.8       1,021.9          1,076.7              1,097.6          1,108.5          1,142.7          1,185.2          1,205.2          1,179.7          1,170.1          1,199.1          1,437.7


                                (In millions of US dollars)
        56.9              -75.0            -60.2             -54.5           -76.8           -108.0            -98.6             24.0             30.0            222.0            171.8           -721.8           -303.0
        30.5             -119.6           -113.0            -140.2          -169.9           -228.8           -199.3           -149.1           -155.0            136.2            -52.4           -612.5           -157.1
       568.5              462.4            454.3             535.8           523.2            524.0            627.3            872.0          1,069.0          1,543.9          1,950.7          2,534.5          1,902.6
       538.0              582.0            567.3             676.0           693.1            752.8            826.6          1,021.1          1,224.0          1,407.7          2,003.1          3,147.0          2,059.7
        20.0               18.9             34.2              40.0            43.0             77.8            131.5            129.0            258.0            191.1            360.0            585.5            527.4
       137.5              123.2            157.0             190.9           207.0            271.0            196.8            193.7            333.2            583.4            801.5            561.2          1,294.5
       604.8              759.0            827.8             836.9           853.7            978.1          1,287.0          1,429.0          1,433.0          1,529.0          1,703.0          1,602.0          2,099.2
                      (In months of imports of goods and services)
         2.7                2.2               2.8              2.9             3.0              3.4              2.2              1.7              2.5              5.0              4.8              2.1              5.9
                      (In per cent of exports of goods and services)
         9.0                5.9               5.7              3.8             5.3              4.5            34.0               7.4              2.9              na               na               na               na


         2.4               2.5              2.5              2.5               2.5              2.6              2.6              2.6              2.6              2.6              2.6              2.7              2.7
       957.2             939.7          1,063.8          1,172.7           1,283.1          1,411.4          1,660.4          2,154.2          2,779.6          3,715.0          4,599.5          6,019.8          6,055.8
       496.6             454.3            419.7            436.1             463.3            499.0            562.7            702.7            890.2          1,213.6          1,491.7          1,870.7          1,539.7
         na                na               na               na               22.0             22.5             25.3             29.9             31.1             36.0             35.3             28.5             28.7
         na                na               na               na               24.9             20.7             20.1             20.9             21.7             19.5             20.5             21.6             21.2
         4.7              -6.7             -5.8             -5.0              -6.6             -8.5             -6.8              1.3              1.3              7.0              4.4            -14.4             -7.2
       467.3             635.8            670.8            646.0             646.7            707.1          1,090.3          1,235.3          1,099.9            945.6            901.5          1,040.8            804.7
        49.9              67.9             79.5             76.8              73.0             76.8             88.6             78.6             62.1             48.6             43.3             31.9             49.8
        97.4             140.5            149.2            130.8             134.1            138.0            154.1            118.2             96.6              na               na               na              89.4
2010



           7.0
           na
           na


           na
           na

           na


           9.5
           9.0
           na
           na
           na


          -6.9
           na
           na


           na
           na

           na


           na
           na
           na

           na
           na



        -418.0
        -299.4
       2,378.3
       2,677.6
         791.1
           na
           na

           na

           5.3


           na
       6,942.4
           na
           na
           na
          -8.2
           na
           na
           na
Montenegro
                                                             1989      1990      1991             1992            1993       1994         1995
                                                                                                                          Estimate   Projection

Output and expenditure                                                        (Percentage change in real terms)
GDP                                                           1.3      -7.9     -10.8           -21.0             -24.9        0.7         6.2
Industrial gross output                                       na        na      -13.4           -17.1             -23.6       -3.8        -1.1
Agricultural gross output                                     na        na         na              na               na         na          na
Employment                                                                          (Percentage change)
Labour force (end-year)                                       na        na         na             -1.7             -2.9       -3.4        -1.2
Employment (end-year)                                         na        na         na             -6.9             -3.0       -1.5        -2.3

Unemployment (end-year)                                       na        na       28.7             32.5            32.6       31.3         32.1
Prices and wages                                                                    (Percentage change)
Consumer prices (annual average)                              na        na         na              na               na         na        97.0
Consumer prices (end-year)                                    na        na         na              na               na         na         na
Producer prices (annual average)                              na        na         na              na               na         na         na
Gross average monthly earnings in economy (annual average)    na        na         na              na               na         na       118.2
Government sector                                                                   (In per cent of GDP)
General government balance                                    na        na         na                na             na         na           na
General government expenditure                                na        na         na                na             na         na           na
Monetary sector                                                                     (Percentage change)
Broad money (M2, end-year)                                    na        na         na              na               na         na           na
Domestic credit (end-year)                                    na        na         na              na               na         na           na

Broad money (M2, end-year)                                    na        na         na               na              na         na           na
Interest and exchange rates                                                   (In per cent per annum, end-year)
Discount rate                                                 na        na         na               na              na         na           na
Money market rate                                             na        na         na               na              na         na           na
Deposit rate                                                  na        na         na               na              na         na           na
Lending rate (long-term)                                      na        na         na               na              na         na           na

Exchange rate (official, end-year)                            na        na         na               na              na         na           na
Exchange rate (official, annual average)                      na        na         na               na              na         na           na
External sector

Current account                                               na        na         na               na              na         na           na
Trade balance                                                 na        na         na               na              na         na           na
   Merchandise exports                                        na        na         na               na              na         na           na
   Merchandise imports                                        na        na         na               na              na         na           na
Foreign direct investment, net                                na        na         na               na              na         na           na
Gross reserves, excluding gold (end-year)                     na        na         na               na              na         na           na
External debt stock                                           na        na         na               na              na         na           na

Gross reserves, excluding gold (end-year)                     na        na         na               na              na         na           na

Debt service                                                  na        na         na               na              na         na           na
Memorandum items                                                                (Denominations as indicated)
Population (end-year, million)                               10.5      10.5       0.6              0.6             0.6        0.6         0.6
GDP (in millions of euros)                                    na    1,778.0   3,490.0       270,819.0              na     1,021.0     1,916.0
GDP per capita (in US dollars)                                na        na        na               na              na         na          na
Share of industry in GDP (in per cent)                        na        na        na               na              na         na          na
Share of agriculture in GDP (in per cent)                     na        na        na               na              na         na          na
Current account/GDP (in per cent)                             na        na        na               na              na         na          na
External debt - reserves (in US$ million)                     na        na        na               na              na         na          na
External debt/GDP (in per cent)                               na        na        na               na              na         na          na
External debt/exports of goods and services (in per cent)     na        na        na               na              na         na          na
1996             1997             1998             1999



         13.9               4.2              4.0              -6.7
         21.3               0.8             -0.2              -5.0
          na                na               na                na


           0.1            15.1               1.4               2.8
          -0.8            19.4              -0.7              -0.7

         32.7             30.2             31.6               33.9


         80.2             23.4             32.4              67.6
          na               na               na              146.2
          na               na               na                na
        111.6             33.6             39.0              26.2


           na               na               na                na
           na               na               na                na


           na               na               na                na
           na               na               na                na

           na               na               na                na


           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na

           na               na               na                na
           na               na               na                na



           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na

           na               na               na                na

           na               na               na                na


           0.6              0.6              0.7               0.7
       3,992.0          5,209.0          7,604.0          12,920.0
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
           na               na               na                na
2000             2001                 2002                                         2003



           3.1                  1.1                                          1.9              2.5
           3.3                 -0.7                                          0.6              2.4
           na                   na                                           na               na


           1.8                -13.4                                         -2.6             -6.1
          -3.4                -19.3                                         -0.3             -3.3
                                 (In per cent of labour force)
         37.3                  41.6                                        40.2             38.5


          97.1                22.6                                         16.0              6.7
          22.5                26.6                                          9.2              6.2
          16.5                14.5                                          4.5              4.5
         -96.0                16.8                                         30.5             17.8


         -4.0                 -2.0                                         -1.9             -3.1
         33.6                 27.3                                         45.5             46.6


           na                   na                                           na               na
           na                   na                                           na               na
                                      (In per cent of GDP)
           na                   na                                           na             30.5


           na                   na                                           na               na
           na                   na                                           na               na
           na                   na                                           5.2              4.9
           na                   na                                           na               na
                                      (Euros per US dollar)
           1.1                  1.1                                          1.0              0.8
           1.1                  1.1                                          1.1              0.9


                                  (In millions of US dollars)
         -42.8               -169.0                                       -158.0           -116.3
        -192.8               -436.0                                       -402.0           -405.3
         161.3                211.0                                        305.0            305.9
         354.1                647.0                                        707.0            711.2
           na                  10.0                                         84.0             44.0
           na                    na                                         58.3             63.7
           na                    na                                        841.7            462.1
                        (In months of imports of goods and services)
           na                    na                                          0.9              1.0
                        (In per cent of exports of goods and services)
           na                    na                                          4.2              4.8


           0.7                 0.7                                           0.7              0.7
       1,022.2             1,295.1                                       1,360.4          1,510.0
       1,431.6             1,756.3                                       1,941.6          2,582.8
           na                  na                                            na               na
           na                  na                                            na               na
          -4.5               -14.6                                         -12.3             -6.8
           na                  na                                          783.4            398.4
           na                  na                                           65.7             27.1
           na                  na                                          178.7             88.6
2004             2005             2006              2007



          4.4               4.2              8.6              10.7
         13.8              -1.9              1.0               0.4
          na                na               na                na


         13.0              -3.6              -2.3              0.7
         29.9               2.0               3.7              5.5

         29.3             25.2              20.6              16.8


          2.4               2.3              3.0               4.2
          1.5               2.4              2.8               7.7
          5.8               2.1              3.0               8.5
         12.2               7.6             15.3              14.1


         -1.9              2.1               2.9               6.3
         40.5             39.1              42.7              41.3


         16.3             49.6              87.9              72.9
         42.4             10.6             142.3             175.5

         32.1             44.2              70.1              92.7


           na              na                na                na
           na              na                na                na
           4.8             5.0               5.4               5.1
           na             12.1               9.9               9.2

           0.7              0.8              0.8               0.7
           0.8              0.8              0.8               0.7



        -149.0           -197.3            -667.0          -1,129.6
        -517.9           -650.1          -1,066.4          -1,836.0
         561.4            581.8             813.9             903.0
       1,079.3          1,231.9           1,880.3           2,739.0
          63.3            481.9             585.3             717.4
          82.0            204.0             432.7             688.8
         488.8            524.5             939.0           2,915.0

           0.8              1.7              2.4               2.7

           3.4              2.8              2.4               2.6


           0.7              0.7              0.7               0.7
       1,670.0          1,815.0          2,149.0           2,810.0
       3,142.8          3,478.3          4,084.2           5,827.2
           na               na               na                na
           na               na               na                na
          -7.2             -8.6            -24.7             -29.4
         406.8            320.5            506.3           2,226.1
          23.6             22.8             34.8              75.8
          56.1             52.6             70.1             159.8
2008              2009              2010



            7.5              -5.7              -0.6
           -2.0             -32.2               na
            na                na                na


           3.4               1.3                na
           6.4               0.4                na

          14.4              15.1                na


           8.3                3.4              1.4
           6.9                1.5              2.0
           7.5               -3.4              na
          41.6                5.6              na


          -0.4              -3.6               -7.1
          50.4              49.4                na


          28.5               29.9               na
          25.8              -12.8               na

         108.6             145.9                na


           na                na                 na
           na                na                 na
           3.8               3.8                na
           9.2               9.4                na

           0.7               0.7                na
           0.7               0.7                na



       -2,290.5          -1,244.9          -1,223.7
       -3,047.2          -1,903.7          -1,871.7
          683.5             411.2             404.3
        3,730.7           2,314.9           2,276.1
          806.4           1,264.4             407.9
          435.7             572.6               na
        4,315.9           4,011.2               na

           1.2               2.5                na

           2.8                na                na


           0.7               0.7               na
       3,085.6           2,981.0           3,004.4
       6,842.4           6,269.2               na
           na                na                na
           na                na                na
         -50.7             -30.1             -17.0
       3,880.2           3,438.6               na
          95.6              96.9               na
         242.3             296.0               na
Poland
                                                                                     1989                1990             1991             1992               1993            1994         1995 1996
                                                                                                                                                                           Estimate   Projection
                             1
Output and expenditure                                                                                                (Percentage change in real terms)
GDP                                                                                   0.2               -11.6             -7.0             2.6                 3.8             5.2          7.0             6.2
   Private consumption                                                               -0.3               -15.3              6.3             2.3                 5.2             3.9          3.7             8.8
   Public consumption                                                                -4.6                 0.5            10.2              6.4                 3.8             1.2          4.8             2.3
   Gross fixed capital formation                                                     -2.1               -10.6             -4.4             2.3                 2.9             9.2         16.6            19.7
   Exports of goods and services                                                      2.6                15.1             -1.7           10.8                  3.2            13.1         23.6            12.0
   Imports of goods and services                                                      4.3               -10.2            29.6              1.7                13.2            11.3         24.3            28.0
Industrial gross output2                                                              na                -24.2             -8.0             2.8                 6.4            12.0         10.4             7.7
Agricultural gross output                                                             na                 -2.2             -1.6          -12.7                  6.8            -9.3         10.7             1.7
Employment                                                                                                                   (Percentage change)
Labour force (end-year)                                                               na                  na               1.9             -0.4                0.7             0.6         -0.9             1.4
Employment (end-year)                                                                 na                 -5.0             -4.3             -2.8               -1.7             1.1          0.3             1.2

Unemployment (end-year)3                                                              na                  6.5             12.2            14.3                16.4            16.0         14.9            13.2
Prices and wages4                                                                                                            (Percentage change)
Consumer prices (annual average)                                                   251.1               585.8              70.3            43.0                35.3            32.2         27.8            19.9
Consumer prices (end-year)                                                         639.6               249.3              60.4            44.3                37.6            29.5         21.6            18.5
Producer prices (annual average)                                                   212.8               622.4              40.9            34.5                31.9            25.3         25.4            12.4
Producer prices (end-year)                                                           na                192.8              35.7            31.5                37.0            27.9         18.9            11.2
Gross average monthly earnings in economy (annual average)                           na                  na                na               na                 na             34.6         31.6            26.5
Government sector5                                                                                                           (In per cent of GDP)
General government balance                                                           -7.4                3.1              -2.3               -5.3             -2.8            -2.8         -4.4            -4.9
General government expenditure                                                        na                 na               44.6              50.5              50.3            51.1         47.7            51.0
General government debt                                                               na                95.1              81.8              86.7              88.7            72.4         49.6            43.9
Monetary sector                                                                                                              (Percentage change)
Broad money (M2, end-year)                                                            na               160.1              37.0            57.5                36.0            38.2         34.9            34.3
Domestic credit (end-year) 6                                                          na                 0.0               0.0            57.8                38.6            29.8         20.8            -5.7

Broad money (M2, end-year)                                                           61.9               32.2              31.6            35.8                35.9            36.7         30.9            33.2
Interest and exchange rates                                                                                           (In per cent per annum, end-year)
Rate on 7-day open market operations7                                                26.0               48.0              36.0             32.0               29.0            28.0         25.0            22.0
3-months WIBOR                                                                        na                 na                na              41.4               33.7            27.0         24.2            21.7
Deposit rate8                                                                         na                53.0              36.0             32.0               25.0            26.0         19.5            17.0
Lending rate8                                                                         na                61.0              40.0             39.0               35.0            31.0         24.0            24.7

Exchange rate (end-year)9                                                             0.7                 1.0              1.1              1.6                2.1             2.4          2.5             2.9
Exchange rate (annual average)9                                                       0.1                 1.0              1.1              1.4                1.8             2.3          2.4             2.7
External sector

Current account                                                                  -1,800.0              700.0         -1,300.0         -1,515.0            -2,688.0        954.0          854.0         -3,264.0
Trade balance                                                                     3,180.7            4,793.9         -1,137.2         -2,954.8            -2,482.0       -575.0       -1,646.0         -7,287.0
   Merchandise exports                                                           13,431.9           14,321.6         14,394.1         13,187.1            13,598.0     18,355.0       25,041.0         27,557.0
   Merchandise imports                                                           10,251.2            9,527.7         15,531.3         16,142.0            16,080.0     18,930.0       26,687.0         34,844.0
Foreign direct investment, net                                                        na                 0.0            117.0            284.0               580.0      1,846.0        3,617.0          4,445.0
Gross reserves, excluding gold (end-year)                                             na             4,492.0          3,633.0          4,099.0             4,281.0      6,028.0       14,963.0         18,220.0
External debt stock                                                              40,200.0           49,000.0         48,000.0         47,600.0            47,200.0     43,600.0       52,511.0         47,541.0
                                                                                                                                                                                                                  (In
Gross reserves, excluding gold (end-year)                                             na                  na               na               na                 2.9             3.2          5.3             5.3
                                                                                                                                                                                                                  (In p
Debt service                                                                          na                  na               na               na                15.8             8.2          9.9             7.5
Memorandum items                                                                                                        (Denominations as indicated)
Population (end-year, million)                                                       37.8               38.2             38.3            38.4            38.5              38.6           38.6             38.6
GDP (in billions of zlotys)9                                                         11.8               59.2             82.5           114.9           155.8             210.4          337.2            422.4
GDP per capita (in US dollars)                                                    2,156.6            1,630.0          2,037.4         2,196.8         2,232.8           2,398.3        3,604.6          4,056.8
Share of industry in GDP (in per cent)                                               44.1               44.9             40.2            34.0            32.9              32.2           32.1             30.8
Share of agriculture in GDP (in per cent)                                            11.8                7.4              6.8              6.7            6.6               6.2            5.6              5.2
Current account/GDP (in per cent)                                                    -2.2                1.1             -1.7            -1.8            -3.1               1.0            0.6             -2.1
External debt - reserves (in US$ million)                                             na            44,508.0         44,367.0        43,501.0        42,919.0          37,572.0       37,548.0         29,321.0
External debt/GDP (in per cent)                                                      49.3               78.7             61.5            56.4            54.9              47.1           37.7             30.3
External debt/exports of goods and services (in per cent)                             na                 na               na               na           305.4             174.0          147.0            127.4


1                                                                                           6
    GDP decomposition from 1996 is based on national accounts. Data before 1996                 Includes domestic credit to non-financial sector and general government.
                                                                                            7
    are based on OECD estimates.                                                                In 2003 and 2004 the rate refers to 14-day open market operations.
2                                                                                           8
    Industrial production.                                                                      Weighted average, as reported by the National Bank of Poland.
3
    According to Eurostat.                                                                      Calculation of the new rates has been conceptually adjusted
4
    As reported by the Central Statistical Office.                                              to harmonised ECB requirements. The data since 2004 are adjusted
5
    From 1995 data are based on ESA-95 format as reported by Eurostat. Earlier                  to the new methodology.
                                                                                            9
    data are based on local statistics and estimates.                                           On 1 January 1995 Polish zloty was denominated (four zeros removed).
                                                                                                All data are converted into new zlotys.
1997              1998              1999              2000              2001              2002              2003              2004              2005              2006           2007           2008           2009



            7.1               5.0               4.5               4.3               1.2               1.4               3.9               5.3               3.6            6.2            6.8            5.1            1.7
            7.1               5.0               5.4               3.1               2.3               3.4               2.1               4.7               2.1            5.0            4.9            5.9            2.3
            3.6               1.9               2.5               2.1               2.7               1.4               4.9               3.1               5.2            6.1            3.7            7.5            1.2
           21.8              14.0               6.0               3.9              -9.7              -6.3              -0.1               6.4               6.5           14.9           17.6            8.2           -0.3
           12.2              14.4              -2.5              23.2               3.1               4.8              14.2              14.0               8.0           14.6            9.1            7.1           -9.1
           21.4              18.6               1.0              15.5              -5.3               2.8               9.6              15.8               4.7           17.3           13.7            8.0          -14.3
            9.8               3.5               2.9               6.3              -2.4              -2.3               5.9               9.1               4.4           11.6           11.1            7.5            na
            0.2               3.6              -0.5              -4.1               6.7               1.1               2.5               7.0              -1.0           -2.3           -3.5           -1.4            na


          -11.7              17.0               5.4             -8.0               -3.6              -0.8              -0.6               0.9               0.8           -1.7            0.0            1.0            1.1
           -7.4               1.2              -3.9             -1.6               -6.4              -2.3               0.0               2.5               2.4            3.6            4.2            3.0           -0.8
                                  (In per cent of labour force)
           10.9              10.2              13.4             16.1               18.3              20.0              19.7              19.0              17.8           13.9            9.6            7.1            8.5


           14.9              11.8               7.3              10.1               5.5               1.9               0.8               3.5               2.2            1.2            2.4            4.3            3.8
           13.2               8.6               9.8               8.5               3.6               0.8               1.7               4.4               0.7            1.4            4.0            3.3            3.6
           12.2               7.3               5.5               7.7               5.5               1.2               2.7               7.1               0.7            2.2            2.2            2.6            3.4
           11.5               4.8               7.9               5.5              -0.3               2.3               3.7               5.4               0.2            2.4            2.3            2.6            2.1
           21.5              16.7              37.7              12.7               7.2               3.5               3.2               4.0               9.8            5.0            9.4           10.0            4.4


           -4.6              -4.3              -2.3              -3.0              -5.1              -5.0              -6.3              -5.7              -4.1           -3.6           -1.9           -3.7           -7.2
           46.4              44.3              42.7              41.1              43.8              44.2              44.6              42.6              43.4           43.9           42.2           43.3           44.4
           42.9              38.9              39.6              36.8              37.6              42.2              47.1              45.7              47.1           47.7           45.0           47.2           50.9


           28.1              24.7             20.1               11.8               9.7              -1.6               5.7               7.5              12.6           15.9           14.2           20.2            8.2
           35.0              40.2             14.8               18.5               7.2               0.8               5.2               4.2              13.8           23.0           27.0           32.5            8.6
                                     (In per cent of GDP)
           34.8              37.2             40.4               40.4              42.3              40.1              40.7              39.9              42.2           45.4           46.7           51.9           53.2


           24.5              15.5             16.5               19.0              11.5               6.8               5.3               6.5               4.5            4.0            5.0            5.0            3.5
           25.4              15.2             19.0               19.7              12.3               6.8               5.6               6.7               4.6            4.2            5.7            6.4            4.2
           18.0              12.8             12.9               14.3               8.0               4.2               2.9               2.9               3.4            3.1            3.8            6.0            4.5
           26.4              20.4             20.3               21.5              16.8              11.6               9.6              10.3               7.6            7.2            8.3            9.6            8.4
                                     (Zlotys per US dollar)
            3.5               3.5              4.2                4.3               4.0               3.9               3.8               3.0               3.3            2.9            2.4            3.0            2.9
            3.3               3.5              4.0                4.3               4.1               4.1               3.9               3.7               3.2            3.1            2.8            2.4            3.1


                                (In millions of US dollars)
       -5,744.0        -6,901.0        -12,487.0        -10,343.0              -5,946.0          -5,544.0       -5,473.0         -10,067.0          -3,716.0          -9,394.0      -20,253.0      -26,909.0       -7,207.0
       -9,822.0      -12,836.0         -15,072.0        -12,307.0              -7,661.0          -7,249.0       -5,725.0          -5,622.0          -2,766.0          -7,006.0      -17,057.0      -25,972.0       -4,476.0
       30,731.0       32,467.0          30,060.0         35,902.0              41,663.0          46,742.0       61,007.0          81,862.0          96,395.0         117,468.0      145,337.0      178,427.0      139,956.0
       40,553.0       45,303.0          45,132.0         48,209.0              49,324.0          53,991.0       66,732.0          87,484.0          99,161.0         124,474.0      162,394.0      204,399.0      144,432.0
        4,863.0         6,049.0          7,239.0          9,327.0               5,804.0           3,901.0        4,284.0          11,761.0           6,951.0          10,727.0       17,987.0       11,747.0        8,622.0
       21,403.0       28,275.0          27,314.0         26,562.4              25,650.5          28,660.2       32,594.0          35,335.0          40,875.0          46,381.0       62,978.0       59,318.0       75,938.0
       49,647.0       59,177.0          65,443.0         69,463.0              71,970.5          84,875.0      107,274.0         129,990.0         132,927.0         169,636.0      234,052.0      243,477.0      280,264.0
                      (In months of imports of goods and services)
            5.5             6.5               6.3             5.6                   5.3               5.4               5.0               4.2               4.3            3.9            4.1            3.0            5.4
                      (In per cent of exports of goods and services)
            6.6            10.9             12.9             13.6                  13.0              23.0               na                na               13.0           15.0           10.0           10.4           11.4


           38.6              38.7              38.7              38.5              38.2              38.2              38.2              38.2              38.2           38.1           38.1           38.1           38.1
          515.4             600.9             665.7             744.4             779.6             808.6             843.2             924.5             983.3        1,060.0        1,176.7        1,272.8        1,343.7
        4,066.5           4,446.9           4,340.6           4,454.1           4,981.2           5,183.8           5,674.7           6,624.9           7,967.1        8,956.1       11,152.2       13,866.6       11,313.4
           30.7              30.3              29.7              31.7              29.5              28.7              29.6              30.8              30.7           31.3           33.7           35.9            na
            4.5               3.9               3.2               4.9               5.1               4.5               4.4               5.1               4.5            4.3            4.6            4.2            na
           -3.7              -4.0              -7.4              -6.0              -3.1              -2.8              -2.5              -4.0              -1.2           -2.8           -4.8           -5.1           -1.7
       28,244.0          30,902.0          38,129.0          42,900.6          46,320.0          56,214.8          74,680.0          94,655.0          92,052.0      123,255.0      171,074.0      184,159.0      204,326.0
           31.6              34.4              39.0              40.6              37.8              42.8              49.5              42.0              44.1           46.6           48.4           56.5           59.4
          125.2             136.6             170.3             150.0             140.0             149.5             148.6             136.4             118.0          122.9          134.3          113.8          165.9
2010



           3.3
           na
           na
           na
           na
           na
           na
           na


           na
           na

           na


           2.4
           2.5
           na
           na
           na


          -7.5
           na
           na


           na
           na

           na


           na
           na
           na
           na

           na
           na



   -11,173.0
    -9,300.0
   157,000.0
   166,300.0
    11,000.0
         na
         na

           na

           na


           na
       1,421.3
           na
           na
           na
          -2.2
           na
           na
           na
Romania
                                                                                      1989               1990             1991             1992               1993        1994         1995 1996
                                                                                                                                                                       Estimate   Projection

Output and expenditure                                                                                                 (Percentage change in real terms)
GDP1                                                                                  -5.8                -5.7           -12.9             -8.8                1.5         3.9          7.1             3.9
   Private consumption                                                                 na                  na               na              na                 na          na          13.0             8.0
   Public consumption                                                                  na                  na               na              na                 na          na           1.1             1.9
   Gross fixed capital formation                                                       na                -35.6           -31.6            11.0                 8.3        20.7          6.9             5.7
   Exports of goods and services                                                       na                  na               na              na                 na          na           na              na
   Imports of goods and services                                                       na                  na               na              na                 na          na          16.3             na
Industrial gross output, unadjusted series                                            -5.3               -23.7           -22.8           -21.9                 1.3         3.3          9.5             9.8
Agricultural gross output                                                             -5.1                -2.9             0.8           -13.3                12.9         0.2          4.5             1.3
Employment                                                                                                                   (Percentage change)
Labour force (end-year)                                                                na                  na               na              na                  na          na           na             na
Employment (end-year)2                                                                 na                  na               na              na                  na          na           na             na

Unemployment (end-year)3                                                               na                  na               na               na                 na          na           na             na
Prices and wages                                                                                                             (Percentage change)
Consumer prices (annual average)                                                       1.1                5.1            170.2           210.4               256.1       136.7         32.3            38.8
Consumer prices (end-year)                                                             0.6               37.7            222.8           199.2               295.5        61.7         27.8            56.9
Producer prices (annual average)                                                       0.0               26.9            220.1           184.8               165.0       140.5         35.1            49.9
Producer prices (end-year)                                                             na               154.1            250.5           104.0               195.4        73.4         32.0            60.4
Gross average monthly earnings in economy (annual average)                             na                 na               na               na                 na          na           na             54.4
Government sector                                                                                                            (In per cent of GDP)
General government balance4                                                            0.0                0.0              0.0               0.0               0.0         0.0         -2.5            -3.9
General government expenditure                                                         na                 na               na                 na               na          na          35.9            34.7
General government debt4                                                               na                 na               na                 na               na          na           7.0            11.1
Monetary sector                                                                                                              (Percentage change)
Broad money (M2, end-year)                                                             na                17.2            101.2            79.6               141.0       138.1         71.6            66.0
Domestic credit (end-year)                                                             na                 7.6             21.8            86.1               239.7       115.4         89.5            80.8

Broad money (M2, end-year)                                                           54.8                59.9             46.9             30.8               22.3        21.4         25.3            27.9
Interest and exchange rates                                                                                            (In per cent per annum, end-year)
Discount rate                                                                          na                  na               na              70.0              70.0        58.0         35.0            35.0
1-week BUBOR                                                                           na                  na               na               na                na          na           na             51.7
Deposit rate (average)                                                                 na                  na               na               na               42.5        49.5         36.5            38.1
Lending rate (average)                                                                 na                  na               na               na               86.4        61.8         48.6            55.8

Exchange rate (end-year)5                                                              0.0                0.0              0.0              0.0                0.1         0.2          0.3             0.4
Exchange rate (annual average)5                                                        0.0                0.0              0.0              0.0                0.1         0.2          0.2             0.3
External sector

Current account                                                                        na             -3,655.0        -1,012.0         -1,564.0            -1,174.0     -428.0    -1,774.0         -2,584.0
Trade balance                                                                          na             -3,427.0        -1,106.0         -1,420.0            -1,128.0     -411.0    -1,577.0         -2,494.0
   Merchandise exports                                                                 na              5,775.0         4,266.0          4,364.0             4,892.0    6,151.0     7,910.0          8,061.0
   Merchandise imports                                                                 na              9,202.0         5,372.0          5,784.0             6,020.0    6,562.0     9,487.0         10,555.0
Foreign direct investment, net                                                         na                -18.0            37.0             73.0                87.0      341.0       417.0            415.0
Gross reserves, excluding gold (end-year)                                              na                 26.4           157.2             85.1                40.4      536.2       278.0            546.6
External debt stock                                                                    na                  0.0             0.0          3,240.0             5,133.0    6,415.0     6,764.0          9,041.0
                                                                                                                                                                                                              (In
Gross reserves, excluding gold (end-year)                                              na                 0.0              0.3              0.2                0.1         0.8          0.3             0.5
                                                                                                                                                                                                              (In p
Debt service6                                                                          na                  na               na               na                 na          na         10.5            13.6
Memorandum items                                                                                                         (Denominations as indicated)
Population (end-year, million)                                                        23.2               23.2             23.2            22.8                22.8        22.7        22.3             22.4
GDP (in billions of lei)5                                                              0.1                0.1              0.2              0.6                2.0         5.0         7.2             10.9
GDP per capita (in US dollars)                                                     2,319.1            1,648.1          1,244.4           859.1             1,158.5     1,323.0     1,589.1          1,579.0
Share of industry in GDP (in per cent)                                                 na                49.9             49.4            38.3                33.8        36.2        32.9             34.2
Share of agriculture in GDP (in per cent)                                              na                23.7             23.6            19.0                21.0        19.9        19.8             19.1
Current account/GDP (in per cent)                                                      na                -9.6             -3.5            -8.0                -4.5        -1.4        -5.0             -7.3
External debt - reserves (in US$ million)                                              na                 0.0              0.0         3,154.9             5,092.6     5,878.8     6,486.0          8,494.4
External debt/GDP (in per cent)                                                        na                 na               na             16.5                19.5        21.3        19.1             25.6
External debt/exports of goods and services (in per cent)                              na                 na               na             64.9                90.2        89.2        71.9             93.9


1                                                                                            4
    From 2001 growth rates are calculated by the National Statistical Institute                  Calculated according to Eurostat methodology (ESA95).
                                                                                             5
    using a new methodology that complies with European standards of national                    The Romanian lei was redenominated in July 2005. All data have been
    accounting.                                                                                  converted to new lei (RON).
2                                                                                            6
    Change of definition in employment excludes economic units                                   Debt service payments on private and public external debt.
    with 0-3 employees.
3
    Officially registered unemployed. According to the ILO methodology, the rate
    of unemployment in Romania is lower than the official one.
1997              1998              1999             2000             2001              2002              2003              2004              2005              2006              2007              2008              2009



           -6.1              -4.8             -1.3              0.0               5.6               5.0               5.3               8.5               4.1               7.9               6.3               7.3              -7.1
           -3.7               0.6             -3.9             -2.6               9.4               6.2               8.3              15.9              10.0              12.8              11.8               9.5             -10.6
           -7.5               4.5             -7.2             17.3              -4.4              -4.3               9.8              -8.5               3.8              -3.8              -0.3               7.2               0.7
            1.7              -5.7             -4.0              6.3               9.9               8.9               8.7              11.0              15.3              19.9              30.3              16.1             -25.3
            na                na               9.4             22.1              11.9              17.1               9.2              14.3               7.2               9.8               7.8               7.7              -5.2
            na               11.3             -0.1             25.2              18.7              12.3              16.6              22.1              16.0              22.7              27.9               7.0             -21.3
           -5.6             -17.3             -8.8              5.6               5.8               6.0               4.9               8.0               4.1              10.1              11.3               6.5              -5.5
            3.4              -7.6              4.0            -18.4              28.2              -6.9               5.0              18.6             -17.2               3.4             -15.3              21.9              -6.3


            na                na                 na             0.2               0.3              -1.1              -7.7              -6.2               0.6              -0.9               2.1              -0.3              -0.5
            na               -0.9              -1.1             0.0              -0.5              -9.5              -4.5              -0.6               0.1               1.9               0.7               0.2              -4.4
                                  (In per cent of labour force)
            na                 na               7.1             7.3               6.8               8.6               7.0               8.1               5.9               5.2               4.1               4.4               7.8


         154.8               59.1             45.8             45.7              34.5              22.5              15.3              11.9               9.1               6.6               4.9               7.9               5.6
         151.4               40.6             54.8             40.7              30.3              17.8              14.1               9.3               8.7               4.9               6.7               6.4               4.7
          52.7               33.2             44.5             53.4              40.3              23.6              19.5              18.5              12.3              11.9               8.6              18.0               1.9
         154.3               19.8             62.8             50.3              32.6              24.5              19.6              18.5              12.5              12.0               8.7              18.5               4.2
          97.8               56.2             45.1             47.8              48.6              25.8              24.6              23.1              17.0              18.9              22.6              23.6               8.4


           -4.5              -3.2             -4.5             -4.6              -3.5              -2.0              -1.5              -1.2              -1.2              -2.2              -2.5              -5.4              -7.4
           34.9              35.2             39.6             38.5              36.0              35.0              33.5              33.5              33.5              35.3              36.0              37.6              40.4
           16.5              17.8             24.2             22.7              25.7              24.9              21.5              18.7              15.8              12.4              12.6              13.3               na


         104.9               48.9             45.0             38.0              46.2              38.1              23.3              37.1              36.5              28.1              34.0              17.3               8.3
          50.8               68.5             26.8             10.9              34.9              38.7              49.0              40.2              43.7              52.0              23.8              35.2               4.3
                                     (In per cent of GDP)
           24.6              24.8             24.6             22.9              22.9              24.6              23.3              25.5              29.8              32.0              35.6              33.7              38.3


          40.0               35.0             35.0             35.0              35.0              29.0              20.4              18.0               7.5               8.8               7.5              10.3               8.0
         102.4              159.0             73.8             53.0              36.6              29.1              19.0              20.0               9.0               8.3               7.6              11.4               9.2
          51.6               38.3             45.4             32.4              26.2              19.2              11.0              11.5               6.4               4.8               6.7               9.5               8.7
          63.7               56.9             65.9             53.2              45.7              35.4              25.4              25.6              19.6              14.0              13.4              15.0              16.6
                                      (Lei per US dollar)
            0.8               1.1              1.8              2.6               3.2               3.4               3.3               2.9               3.1               2.6               2.5               2.8               2.9
            0.7               0.9              1.5              2.2               2.9               3.3               3.3               3.3               2.9               2.8               2.4               2.5               3.0


                                   (In millions of US dollars)
       -2,137.0           -2,581.0          -1,352.0        -1,497.0         -2,491.0          -1,618.0          -2,877.0          -5,102.0          -6,884.0      -10,155.0         -16,713.0         -16,157.0             -5,169.0
       -1,980.0           -2,327.0          -1,184.0        -1,871.0         -3,327.0          -2,747.0          -3,955.0          -5,326.0          -7,806.0      -11,760.0         -17,822.0         -19,109.0             -6,787.0
        8,431.0            7,414.0           7,984.0        11,279.0         12,719.0          14,644.0          15,614.0          18,945.0          22,255.0       25,849.0          29,549.0          33,725.0             29,117.0
       10,411.0            9,741.0           9,169.0        13,150.0         16,045.0          17,392.0          19,569.0          24,271.0          30,061.0       37,609.0          47,371.0          52,834.0             35,904.0
        1,267.0            1,776.0             950.0         1,161.0          1,314.0           1,193.0           1,591.0           5,130.0           5,238.0        8,725.0           7,049.0           9,310.0              6,128.3
        2,193.5            1,374.8           1,678.2         2,819.5          4,619.6           5,994.5           6,504.9          10,865.5          16,987.9       21,445.2          25,391.4          26,620.7             22,985.2
       10,139.0          10,244.0            9,551.0        11,255.0         14,787.6          16,199.7          17,835.3          21,505.0          30,913.6       41,196.1          58,624.0          73,421.6             78,655.7
                         (In months of imports of goods and services)
            2.1                1.5               1.9             2.2              3.0               3.6               3.5               4.8               5.9               6.0               5.7               5.2               6.4
                         (In per cent of exports of goods and services)
           20.9               27.0              30.8            23.8             18.8              18.8              18.8              19.3              25.2              27.2              34.2              31.4               na


           22.3              22.3             22.3             22.3              21.7              21.6              21.6              21.6              21.6              21.5              21.5              21.4              21.5
           25.3              37.4             54.6             81.0             117.9             152.0             197.4             247.4             289.0             344.7             416.0             514.7             491.3
        1,579.1           1,885.7          1,594.2          1,672.2           1,871.6           2,125.4           2,751.9           3,513.0           4,601.7           5,702.4           7,954.2           9,565.1           7,504.3
           35.6              31.4             30.0             30.9              31.8              32.7              30.4              30.8              31.4              31.9              33.4              33.5              23.7
           18.8              14.4             12.9             10.8              13.3              11.4              11.6              12.5               8.4               7.8               5.8               6.7               6.3
           -6.1              -6.1             -3.8             -4.0              -6.1              -3.5              -4.8              -6.7              -6.9              -8.3              -9.8             -11.9              -4.5
        7,945.5           8,869.2          7,872.8          8,435.5          10,168.0          10,205.2          11,330.4          10,639.5          13,925.7          19,750.9          33,232.6          46,800.9          55,670.5
           28.7              24.3             26.8             30.2              36.4              35.2              30.0              28.4              31.2              33.6              34.4              35.9              48.8
          101.8             120.4            103.0             85.3              98.6              94.7              97.5              98.4             117.3             131.0             160.9             172.8             217.7
2010



           -2.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            6.1
            7.9
            na
            na
            na


           -6.8
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       -5,149.3
       -4,732.4
       32,627.7
       37,360.1
        4,674.3
            na
            na

            na

            na


           na
         516.1
           na
           na
           na
          -5.1
           na
           na
           na
Russian Federation
                                                                                  1989               1990             1991            1992             1993              1994          1995 1996
                                                                                                                                                                   Estimate       Projection

Output and expenditure                                                                                            (Percentage change in real terms)
GDP                                                                                1.6                -3.0            -5.0          -14.8              -8.7              -12.7         -4.0         -3.6
   Private consumption                                                             na                  na             -4.6            -3.0              1.2                1.2         -4.6         -4.9
   Public consumption                                                              na                  na           -11.3           -11.8              -6.4               -2.9          1.1          3.1
   Gross fixed capital formation                                                   na                  na              na              na               na                 na          -7.5        -21.2
   Exports of goods and services                                                   na                  na              na              na               na                 na           7.3          3.7
   Imports of goods and services                                                   na                  na              na              na               na                 na          16.6          1.3
Industrial gross output                                                            1.4                -0.1            -8.0          -18.0             -14.1              -20.9         -3.3         -4.5
Agricultural gross output                                                          na                 -4.0            -3.7            -9.0             -4.4              -12.0         -8.0         -5.1
Employment                                                                                                               (Percentage change)
Labour force (end-year)                                                            na                 na              -0.3             -0.2            -0.9               -1.6         -1.5         -0.6
Employment (end-year)                                                              0.3                0.1             -2.0             -2.3            -1.7               -3.4         -3.0         -0.7

Unemployment (end-year)                                                            na                  na              na              5.3              6.0               7.7           9.2          9.3
Prices and wages                                                                                                        (Percentage change)
Consumer prices (annual average)                                                   2.0                5.6            92.7         1,526.0             875.0          311.4           197.7          47.8
Consumer prices (end-year)                                                         na                 na            161.0         2,506.1             840.0          204.4           128.6          21.8
Producer prices (annual average)                                                   na                 na              na          1,767.9             941.9          337.4           236.5          50.8
Producer prices (end-year)                                                         na                 na            345.0         3,279.1             895.0          233.0           175.0          25.6
Gross average monthly earnings in economy (annual average)                         na                14.7            94.9         1,005.4             904.7          277.3            94.6          67.3
Government sector1                                                                                                      (In per cent of GDP)
General government balance                                                         na                  na              na             -18.9            -7.3              -10.4         -6.6         -9.4
General government expenditure                                                     na                  na              na              58.4            43.6               45.1         43.3         45.3
General government debt                                                            na                  na              na                na             na                83.3         50.4         53.1
Monetary sector                                                                                                         (Percentage change)
Broad money (M2, end-year)                                                         na                  na              na              na               na           200.0           125.8          30.6
Domestic credit (end-year)                                                         na                  na              na              na               na           335.6            87.8          53.7

Broad money (M2, end-year)                                                         na                  na              na               na             19.0              16.0          15.5         14.4
Interest and exchange rates                                                                                       (In per cent per annum, end-year)
Central Bank refinance rate (uncompounded)                                         na                  na              na               na            210.0          180.0           160.0          48.0
Treasury bill rate (all maturities)                                                na                  na              na               na            263.0          104.1           132.4          63.1
Deposit rate                                                                       na                  na              na               na              na             na             69.6          34.5
Lending rate                                                                       na                  na              na               na              na             na            224.9          66.9

Exchange rate (end-year)                                                           0.0                0.0              0.1             0.5              1.2               3.6           4.6          5.6
Exchange rate (annual average)                                                     0.0                0.0              0.0             0.2              1.0               2.2           4.6          5.1
External sector

Current account                                                                    na                  na              na              na              na          7,843.6         6,962.7      10,846.8
Trade balance                                                                      na                  na              na         10,634.0        10,346.0        16,926.7        19,815.8      21,592.3
   Merchandise exports                                                             na                  na              na         53,605.0        59,646.0        67,378.7        82,419.2      89,684.6
   Merchandise imports                                                             na                  na              na         42,971.0        49,300.0        50,452.0        62,603.4      68,092.3
Foreign direct investment, net                                                     na                  na              na              na              na            409.0         1,460.0       1,657.0
International reserves, excluding gold (end-year)                                  na                  na              na              na          5,828.6         3,976.1        14,264.9      11,270.6
External debt stock                                                                na                  na              na              na        117,900.0       126,700.0       132,700.0     153,000.0
                                                                                                                                                                                                           (In m
International reserves, excluding gold (end-year)                                  na                  na              na               na              na                0.7           2.1          1.6
                                                                                                                                                                                                           (In p
Debt service2                                                                      na                  na              na               na              na               24.8          20.6         17.4
Memorandum items                                                                                                    (Denominations as indicated)
Population (end-year, million)                                                   148.0              148.5           148.7           148.5            148.6           148.4           148.4         148.3
GDP (in billions of roubles)                                                       0.6                0.7             1.4            19.0            171.5           610.7         1,428.5       2,007.8
GDP per capita (in US dollars)                                                 6,202.8            8,034.9           279.6           565.7          1,133.7         1,866.3         2,110.1       2,641.3
Share of industry in GDP (in per cent)                                             na                 na             38.2            33.7             34.4            32.8            29.0          29.5
Share of agriculture in GDP (in per cent)                                          na                 na             14.0              7.2             8.2             6.5             7.2           7.3
Current account/GDP (in per cent)                                                  na                 na              na               na              na              2.8             2.2           2.8
External debt - reserves (in US$ million)                                          na                 na              na               na        112,071.4       122,723.9       118,435.1     141,729.4
External debt/GDP (in per cent)                                                    na                 na              na               na             70.0            45.7            42.4          39.1
External debt/exports of goods and services (in per cent)                          na                 na              na               na              na            167.1           142.7         148.6


1                                                                                        2
    General consolidated government includes the federal, regional and local                 Data for 1999 show debt service due. Debt service paid was 14.2 per cent.
    budgets and extra-budgetary funds, and excludes transfers.
1997           1998            1999            2000              2001           2002           2003           2004              2005              2006              2007              2008              2009



         1.4           -5.3              6.4             10.0             5.1            4.7            7.4               7.2               6.4               8.2               8.5               5.2              -7.9
         5.0           -3.4             -2.9              7.3             9.5            8.5            7.5              12.1              11.8              11.4              13.7              10.7              -8.1
        -2.4            1.0              3.1              2.0            -0.8            2.6            2.2               2.1               1.3               2.4               3.4               2.9               1.9
        -7.9          -12.4              6.4             18.1            10.2            2.8           12.8              12.6              10.6              18.0              21.1              10.6             -18.2
        -0.5            1.9             11.2              9.5             4.2           10.3           12.5              11.8               6.5               7.3               6.3               0.5               na
         0.4          -17.4            -17.0             32.4            18.7           14.6           17.7              23.3              16.6              21.3              26.5              15.0               na
         2.0           -5.2             11.0              8.7             4.9            3.1            8.9               8.0               5.1               6.3               6.3               2.1             -10.8
         1.5          -13.2              4.1              7.7             7.5            1.5            1.3               3.0               2.3               3.6               3.3              10.8               1.2


        -0.4            -0.3             -0.3              0.4           -1.2            1.4            0.6               0.1               1.2               0.5               1.2               0.6              -0.1
        -2.0            -1.5             -1.4              3.8            0.1            1.8            1.3               0.0               2.2               0.8               2.4              -1.7              -0.6
                            (In per cent of labour force)
        10.8           11.9             12.9              10.7            8.8            8.5            7.8               7.9               7.1               6.7               5.7               7.8               8.2


        14.7           27.8             85.7             20.8            21.6           16.0           13.6              11.0              12.5               9.8               9.1              14.1              11.7
        11.0           84.5             36.6             20.1            18.8           15.1           12.0              11.7              10.9               9.1              11.9              13.3               8.8
        15.0            7.1             58.9             46.6            19.2           14.0           16.4              23.4              20.6              12.4              14.1              21.4              -7.2
         7.5           23.2             67.3             31.6            10.7           17.1           12.5              28.8              13.4              10.4              25.1              -7.0              13.9
        22.1           14.8             42.7             40.6            45.7           34.6           26.1              22.6              26.9              24.3              27.8              27.4               8.5


        -6.5           -5.9             -0.9              1.9             3.0            0.9            1.3               4.5               8.1               8.4               6.0               4.9              -6.2
        35.8           32.0             26.1             26.8            27.1           31.6           30.0              27.4              31.6              31.1              34.2              33.8              40.5
        55.7          129.2             86.0             52.6            40.7           34.7           27.1              20.4              13.5               9.0               7.2               6.5               8.5


        29.8           21.3              57.5            61.5            39.7           32.4           50.5              35.8              38.6              48.8              47.5               1.7              16.3
        23.6           71.0              36.1            12.1            14.5           30.3           30.6              20.9               5.0              30.0              43.6              29.6              23.7
                                (In per cent of GDP)
        16.0           17.3              14.8            15.8            18.0           19.7           24.3              25.6              28.0              33.4              39.9              32.6              40.1


        28.0           60.0          55.0                25.0            25.0           21.0           16.0              13.0              12.0              11.0              10.0              13.0               8.8
        26.0           56.4          25.5                12.1            12.5           12.7            5.4               4.5               3.9               na                na                na                na
        11.8           25.7           8.5                 4.2             5.2            4.2            4.4               3.8               3.6               4.0               5.2               7.0               8.2
        28.6           41.7          31.3                18.2            16.5           14.9           12.4              10.0              11.1              10.5              10.8              15.5              13.7
                            (Roubles per US dollar)
         6.0           20.7          26.8                28.2            30.1           31.8           29.5              27.7              28.8              26.3              24.5              29.4              30.2
         5.8           10.0          24.6                28.1            29.2           31.3           30.7              28.8              28.3              27.2              25.6              24.9              31.7


                             (In millions of US dollars)
       -80.3           219.1        24,615.8         46,839.3        33,934.6       29,279.6       35,410.0       59,511.7          84,602.2          94,686.4          77,011.8         102,399.3          48,972.0
    14,912.6       16,429.0         36,014.2         60,171.4        48,120.3       46,880.8       59,859.3       85,824.9         118,364.0         139,269.0         130,915.0         179,742.0         111,585.0
    86,895.2       74,444.1         75,550.7        105,033.0       101,884.0      111,204.0      135,929.0      183,207.0         243,798.0         303,550.0         354,401.0         471,603.0         303,388.0
    71,982.6       58,015.1         39,536.5         44,861.6        53,763.7       64,323.2       76,069.7       97,382.1         125,434.0         164,281.0         223,486.0         291,861.0         191,803.0
     1,679.6         1,491.5          1,101.8            -462.5         215.7         -588.3       -1,769.0        1,662.4             118.3           6,550.4           9,157.6          20,424.5          -7,335.0
    12,771.1         7,800.0          8,455.4        24,262.6        32,538.1       44,050.8       73,172.1      120,805.0         175,690.0         295,277.0         466,376.0         406,205.0         398,871.0
   182,800.0      188,400.0        178,200.0        160,027.0       146,300.0      152,300.0      186,000.0      213,500.0         257,200.0         313,200.0         471,000.0         479,900.0         471,600.0
                    (In months of imports of goods and services)
         1.7             1.3              1.9               4.8           5.3            6.0            8.5              11.1              12.8              17.0              19.8              13.2              18.9
                   (In per cent of exports of goods and services)
        13.0            15.1             17.5              30.1          26.0           33.6           26.0              24.1              26.3              28.0              28.3              29.5               na


       148.0          147.8           147.5            146.9            146.3          145.2          145.0             144.2             143.5             142.8             142.2             142.0             141.9
     2,342.5        2,629.6         4,823.2          7,305.6          8,943.6       10,819.2       13,208.2          17,027.2          21,609.8          26,917.2          33,247.5          41,428.6          39,100.7
     2,733.6        1,784.5         1,329.3          1,768.0          2,095.8        2,376.9        2,967.9           4,098.1           5,324.2           6,932.3           9,140.0          11,739.1           8,681.6
        28.3           29.9            30.8              na               na            28.2           27.4              31.5              33.7              32.9              31.8              30.6              28.2
         6.5            5.7             7.7              6.4              6.8            6.4            6.3               5.7               5.2               4.8               4.7               4.8               4.5
         0.0            0.1            12.6             18.0             11.1            8.5            8.2              10.1              11.1               9.6               5.9               6.1               4.0
   170,028.9      180,600.0       169,744.6        135,764.4        113,761.9      108,249.2      112,827.9          92,695.0          81,510.0          17,923.0           4,624.0          73,695.0          72,729.0
        45.2           71.4            90.9             61.6             47.7           44.1           43.2              36.1              33.7              31.6              36.2              28.8              38.3
       181.0          217.0           210.6            139.6            129.1          121.7          122.2             104.8              95.7              93.6             119.6              91.8             136.7
2010



            4.4
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            6.7
            8.0
            na
            na
            na


           -5.3
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



    69,378.4
   133,727.2
   379,235.0
   245,507.8
     1,142.9
         na
         na

            na

            na


            na
       45,719.7
            na
            na
            na
            4.6
            na
            na
            na
Serbia
                                                                1989      1990       1991             1992                1993       1994         1995
                                                                                                                                  Estimate   Projection

Output and expenditure                                                            (Percentage change in real terms)
GDP                                                              1.3       -7.9     -11.6           -27.9                -30.8        2.5          6.1
Industrial gross output                                          1.0      -11.1     -19.6           -30.6                -38.2        1.3          3.8
Agricultural gross output                                        na         na        9.5           -17.7                 -3.2        6.0          4.1
Employment                                                                              (Percentage change)
Labour force (end-year)                                          na        -1.0      -4.3             -2.3                 1.6        -7.9         0.6
Employment (end-year)                                            na        -3.2      -7.3             -4.3                 2.5        -7.4        -1.4

Unemployment (end-year)                                        17.9       19.7       22.2             23.8                23.1       22.7         24.2
Prices and wages                                                                        (Percentage change)
Consumer prices (annual average)                                 na         na         na              na                  na         3.3         78.6
Consumer prices (end-year)                                       na         na         na              na                  na         na           na
Producer prices (annual average)                                 na         na         na              na                  na         8.0         57.7
Gross average monthly earnings in economy (annual average)       na         na         na              na                  na         na           na
Government sector                                                                       (In per cent of GDP)
General government balance                                       na         na         na                na                na          na           na
General government expenditure                                   na         na         na                na                na          na           na
Monetary sector                                                                         (Percentage change)
Broad money (M2, end-year)                                       na         na         na              na                  na          na           na
Domestic credit (end-year)                                       na         na         na              na                  na          na           na

Broad money (M2, end-year)                                       na         na         na               na                 na          na           na
Interest and exchange rates                                                       (In per cent per annum, end-year)
Discount rate                                                    na         na         na               na                 na         9.0        90.2
 Money market rate                                               na         na         na               na                 na         na      1,267.6
Deposit rate                                                     na         na         na               na                 na         na          na
Lending rate (long-term)                                         na         na         na               na                 na         na          na

Exchange rate (official, end-year)                               na         na         na               na                 na         1.6          4.7
Exchange rate (official, annual average)                         na         na         na               na                 na         1.6          1.8
External sector

Current account                                                  na      -512.0    -536.0           -935.0                 na         na          na
Trade balance                                                 -922.0   -1,644.0    -844.0         -1,320.0              -112.0     -413.0    -1,135.0
   Merchandise exports                                       4,461.0    5,816.0   4,704.0          2,539.0             2,921.0    1,482.0     1,531.0
   Merchandise imports                                       5,383.0    7,460.0   5,548.0          3,859.0             3,033.0    1,895.0     2,666.0
Foreign direct investment, net                                   na         na        na               na                  na         na          na
Gross reserves, excluding gold (end-year)                        na         na        na               na                  na         na          na
External debt stock                                              na         na        na               na             10,265.0   10,619.0    11,058.0
                                                                                                                                                          (In m
Gross reserves, excluding gold (end-year)                        na         na         na               na                 na          na           na
                                                                                                                                                          (In p
Debt service                                                     na         na         na               na                 na          na           na
Memorandum items                                                                    (Denominations as indicated)
Population (end-year, million)                                   9.8       9.8        9.8              9.8                 9.8        9.8          9.8
GDP (in billions of dinars)                                      na        na         na               na                  na         na           na
GDP per capita (in US dollars)                                   na        na         na               na                  na         na           na
Share of industry in GDP (in per cent)                           na        na         na               na                  na         na           na
Share of agriculture in GDP (in per cent)                        na        na         na               na                  na         na           na
Current account/GDP (in per cent)                                na        na         na               na                  na         na           na
External debt - reserves (in US$ million)                        na        na         na               na                  na         na           na
External debt/GDP (in per cent)                                  na        na         na               na                  na         na           na
External debt/exports of goods and services (in per cent)        na        na         na               na                  na         na           na
1996              1997              1998              1999              2000              2001              2002              2003              2004              2005              2006              2007              2008



            7.8             10.1                1.9             -18.0               5.2               5.1               4.5               2.4               9.3               5.6               5.2               6.9               5.5
            7.6              9.5                4.4             -24.4              11.1               0.0               1.8              -3.0               7.1               0.8               4.7               3.7               1.1
            1.5              7.3               -3.2              -2.0             -13.7              23.2              -3.2              -7.0              19.5              -4.9              -0.2              -7.8               8.6


            1.0              4.1                0.5              -7.6             -2.4                1.8               1.4               2.6               0.3               2.2              -1.0              -5.9              -2.1
           -0.6              5.9               -0.1              -8.7             -2.6                0.2              -1.7              -1.3               0.5               0.9              -2.1              -1.1              -0.1
                                                    (In per cent of labour force)
           25.4             24.1               24.6             25.5              25.6               26.8              29.0              31.7              31.6              32.4              33.2              29.8              28.4


           94.3             18.3               30.0              41.1             70.0              91.8               19.5              11.7              10.1              16.5              12.7               6.5              12.4
           58.6              8.9               44.4              45.4            111.9              40.7               14.8               7.8              13.7              17.7               6.6              11.0               8.6
           90.1             19.5               25.5              44.2             44.5               na                 na                na                na                na                na                na                na
           92.3             21.1               28.5              17.0             91.1             129.6               51.7              25.3              23.7              24.1              24.4              22.0              17.9


            na                na                 na               na               -0.9              -6.3              -3.2              -1.1               0.9               1.0              -1.6              -1.9              -2.6
            na                na                 na               na               37.4              40.7              45.1              42.8              41.6              41.9              45.4              44.3              44.6


            na                na                 na               na              76.1             107.0               62.9              12.6              17.1              31.4              45.2              40.0               1.2
            na                na                 na              30.0            215.1              21.7              -25.5              24.6              24.1              52.1              16.7              39.2              35.0
                                                        (In per cent of GDP)
            na                na                 na               9.1               8.6               8.9              11.4              11.0              10.6              11.4              14.1              16.5              14.5


          68.2              33.7               33.7             26.3               26.3              16.4               9.5               9.0               8.5               8.5               8.5               8.5               8.5
         424.0             190.4              124.8             64.5               97.4              55.3              32.2              27.1              16.3              20.5              16.5              10.3              18.5
          34.3              19.1               16.2             13.1                5.7               6.4               3.8               2.1               3.6               3.7               5.1               4.1               7.3
         196.7              78.0               60.9             46.1               78.7              34.5              19.7              15.5              14.6              14.4              15.9              11.1              18.1
                                                       (Dinars per US dollar)
            5.1              5.9               10.0             11.7               66.5              67.7              59.0              54.6              57.9              72.2              60.0              53.7              62.9
            5.0              5.7                9.3             11.1               54.9              66.8              64.2              57.5              58.7              67.2              66.8              58.4              55.7


                                                     (In millions of US dollars)
       -1,670.0          -1,282.0             -660.0           -764.0            -153.0             280.0            -650.0          -1,532.0          -3,281.0          -2,194.0          -2,986.3          -6,334.9       -8,721.3
       -2,260.0          -2,070.0          -1,816.0          -1,619.0         -1,582.0           -2,308.0          -3,228.0          -4,021.0          -6,469.0          -5,290.0          -6,271.0          -9,131.0      -11,256.5
        1,842.0           2,756.0            3,033.0          1,676.0          1,645.0            1,821.0           2,212.0           3,319.0           4,082.0           4,970.0           6,442.0           8,755.0       10,956.5
        4,102.0           4,826.0            4,849.0          3,295.0          3,227.0            4,129.0           5,440.0           7,340.0          10,551.0          10,260.0          12,713.0          17,886.0       22,213.0
            0.0             740.0              113.0            112.0              50.0             165.0             475.0           1,365.0             966.0           1,550.0           4,264.0           2,523.2        2,716.9
            na                na                 na             289.0             391.0           1,004.0           2,166.0           3,411.0           4,096.0           5,628.0          11,648.0          13,892.0       11,122.9
       11,477.0           9,770.0          10,539.0         10,744.0         10,830.0            11,125.0          11,230.0          13,575.0          14,099.0          15,467.0          19,606.0          26,236.0       31,976.9
                                            (In months of imports of goods and services)
            na                na                 na               1.0               1.3               2.7               4.3               5.0               4.1               5.7               9.3               7.8               5.0
                                           (In per cent of exports of goods and services)
            0.8              3.0                 1.9              4.7               2.7               4.4               6.2              10.3              17.5              26.0              20.2              16.4              17.3


            9.8              9.8                9.8               7.5               7.5               7.5               7.5               7.5               7.5               7.5               7.5               7.5               7.5
           86.3            112.4              146.3             205.6             384.2             762.2             972.9           1,133.0           1,384.3           1,687.8           1,980.2           2,362.9           2,722.5
        1,773.3          2,005.8            1,598.3           2,472.2             933.4           1,520.2           2,021.3           2,629.6           3,145.1           3,348.5           3,953.1           5,393.1           6,514.2
            na              26.0               26.1              25.5              28.0              30.0              24.3              23.2              22.8              21.8              21.8              21.4              20.7
            na              29.4               19.0              25.1              23.0              20.0              13.3              12.1              13.3              12.0              11.3               9.8              10.1
           -9.6             -6.5               -4.2              -4.1              -2.2               2.5              -4.3              -7.8             -13.9              -8.7             -10.1             -15.7             -17.9
            na               na                 na           10,455.0          10,439.0          10,121.0           9,064.0          10,164.0          10,003.0           9,839.0           7,958.0          12,344.0          20,854.0
           66.0             49.7               67.3              57.9             154.7              97.6              74.1              68.8              59.8              61.6              66.1              64.9              65.5
          453.6            273.4              267.0             500.4             524.2             456.9             379.3             311.5             253.7             234.2             223.7             220.1             213.3
2009              2010



           -3.1              1.6
           -2.1              na
            2.2              na


           -6.2              na
           -5.5              na

           27.9              na


            8.1              5.7
            6.6              7.7
            na               na
           -3.3              na


           -4.2             -4.8
           43.6              na


           10.5              na
           16.3              na

           15.0              na


            8.1              na
           11.0              na
            5.1              na
           11.8              na

           66.7              na
           67.6              na



       -2,410.4              0.0
       -6,660.8              na
        8,365.7              na
       15,026.5              na
        1,864.8          1,364.1
       14,769.2              na
       31,648.9              na

            9.6              na

           42.7              na


            7.3              na
        2,905.0          3,086.0
        5,889.2              na
           18.6              na
           10.6              na
           -5.6             -9.6
       16,879.7              na
           73.6              na
          267.0              na
Serbia and Montenegro
                                                                                  1989                1990              1991             1992              1993              1994         1995 1996
                                                                                                                                                                          Estimate   Projection

Output and expenditure                                                                                              (Percentage change in real terms)
GDP                                                                                1.3                -7.9            -11.6           -27.9               -30.8               2.5          6.1           7.8
Industrial gross output                                                            1.0               -11.1            -19.6           -30.6               -38.2               1.3          3.8           7.6
Agricultural gross output                                                          na                  na               9.5           -17.7                -3.2               6.0          4.1           1.5
Employment                                                                                                                 (Percentage change)
Labour force (end-year)                                                            na                 -1.0              -4.3             -2.3               1.6               -7.9         0.6           1.0
Employment (end-year)                                                              na                 -3.2              -7.3             -4.3               2.5               -7.4        -1.4          -0.6

Unemployment (end-year)                                                           17.9                19.7             22.2              23.8             23.1               22.7         24.2          25.4
Prices and wages                                                                                                          (Percentage change)
Consumer prices (annual average)                                                   na                   na               na              na                 na                3.3         78.6          94.3
Consumer prices (end-year)                                                         na                   na               na              na                 na                na           na           58.6
Producer prices (annual average)                                                   na                   na               na              na                 na                8.0         57.7          90.1
Gross average monthly earnings in economy (annual average) 1                       na                   na               na              na                 na                na           na           92.3
Government sector                                                                                                         (In per cent of GDP)
General government balance                                                         na                   na               na                na               na                 na           na            na
General government expenditure                                                     na                   na               na                na               na                 na           na            na
Monetary sector2                                                                                                          (Percentage change)
Broad money (M2, end-year)                                                         na                   na               na              na                 na                 na           na            na
Domestic credit (end-year)                                                         na                   na               na              na                 na                 na           na            na

Broad money (M2, end-year)                                                         na                   na               na                na               na                 na           na            na
Interest and exchange rates                                                                                         (In per cent per annum, end-year)
Discount rate                                                                      na                   na               na               na                na                9.0        90.2           68.2
Money market rate                                                                  na                   na               na               na                na                na      1,267.6          424.0
Deposit rate                                                                       na                   na               na               na                na                na          na            34.3
Lending rate (long-term)                                                           na                   na               na               na                na                na          na           196.7

                                   3
Exchange rate (official, end-year)                                                 na                   na               na                na               na                1.6          4.7           5.1
                                         4
Exchange rate (official, annual average)                                           na                   na               na                na               na                1.6          1.8           5.0
External sector

Current account                                                                     na                -512             -536              -935               na                na           na         -1,670
Trade balance                                                                     -922              -1,644             -844            -1,320             -112              -413       -1,135         -2,260
   Merchandise exports                                                           4,461               5,816            4,704             2,539            2,921             1,482        1,531          1,842
   Merchandise imports                                                           5,383               7,460            5,548             3,859            3,033             1,895        2,666          4,102
Foreign direct investment, net                                                      na                  na               na                na               na                na           na              0
Gross reserves, excluding gold (end-year)                                           na                  na               na                na               na                na           na             na
External debt stock                                                                 na                  na                0                na           10,265            10,619       11,058         11,477
                                                                                                                                                                                                                (In m
Gross reserves, excluding gold (end-year)                                          na                   na               na                na               na                 na           na            na
                                                                                                                                                                                                                (In p
Debt service5                                                                      na                   na               na                na               na                 na           na           0.8
Memorandum items                                                                                                      (Denominations as indicated)
Population (end-year, million)                                                    10.5                10.5             10.4            10.4               10.5               10.5         10.5          10.6
GDP (in billions of dinars)                                                        na                  na               na               na                na                 na           na             84
GDP per capita (in US dollars)                                                     na                  na               na               na                na                 na           na          1,603
Share of industry in GDP (in per cent)                                             na                  na               na               na                na                 na           na             na
Share of agriculture in GDP (in per cent)                                          na                  na               na               na                na                 na           na             na
Current account/GDP (in per cent)                                                  na                  na               na               na                na                 na           na            -9.8
External debt - reserves (in US$ million)                                          na                  na               na               na                na                 na           na             na
External debt/GDP (in per cent)                                                    na                  na               na               na                na                 na           na           67.7
External debt/exports of goods and services (in per cent)                          na                  na               na               na                na                 na           na          453.6


1                                                                                        4
    Data refer to Serbia only.                                                               The exchange rate was re-denominated to 1 Din:1 DM on 24 January 1994. A
2
    Data refer to Serbia only.                                                               multimple exchange rate regime was in place until late-2000. The unofficial
3
    The exchange rate regime was unified in December 2000. The unofficial rate               rate in October 2000 was 30 Din:1 DM compared with an official rate of
    in October 2000 was 30 dinars: 1 deutschmark (DM), compared with an                      6 Din:1 DM.
                                                                                         5
    official rate of 6 dinars: 1 DM.                                                         Serbia and Montenegro was in default of virtually all of its external debt
                                                                                             between 1999 and 2001.
1997            1998              1999             2000               2001             2002             2003             2004             2005             2006             2007        2008        2009



        10.1                1.9            -18.0               5.0              5.5              3.8               2.7             7.2              5.0              5.0           na          na          na
         9.5                4.4            -24.4              11.1              0.0              1.7              -2.7             7.5              0.0              na            na          na          na
         7.3               -3.2             -2.0             -13.7             23.2              3.0              -6.0            19.4              na               na            na          na          na


          4.1               0.5              -2.9             -2.4              1.8              1.3               2.5             -4.5              na               na           na          na          na
          5.9              -0.1              -2.5             -2.6              0.2             -1.6              -1.3             -6.4              na               na           na          na          na
                                (In per cent of labour force)
        24.1               24.6             24.3              24.4             25.5             27.6             30.3             31.7               na               na           na          na          na


        21.3               29.5             37.1              60.4             91.1             21.2             11.3              9.5             16.3             11.4           na          na          na
         9.5               44.5             36.5             113.5             39.0             14.2              7.6             13.4             16.6             10.9           na          na          na
        19.5               25.5             44.2              44.5              na               na               na               na               na               na            na          na          na
        21.1               28.5             17.0              91.1            129.6             51.7             25.3             23.7             24.1              na            na          na          na


          na                na                na              -0.9             -1.3             -4.5             -3.3             -0.3              0.9              2.3           na          na          na
          na                na                na              37.6             40.2             47.7             46.0             44.8             43.3             42.2           na          na          na


          na                na              67.6              58.5             67.6             73.4             26.7             30.3             32.8              4.9           na          na          na
          na                na            130.1               58.2            -54.3             48.6              6.4             61.9             41.7             13.6           na          na          na
                                   (In per cent of GDP)
          na               16.6             21.0              16.9             14.0             18.7             19.9             21.7             23.5             20.8           na          na          na


        33.7              33.7              26.3              26.3             16.4              9.5              9.0              8.5              8.5               na           na          na          na
       190.4             124.8              64.5              97.4             55.3             32.2             27.1             16.3             19.2               na           na          na          na
        19.1              16.2              13.1               8.3              4.1              2.6              2.7              3.6              na                na           na          na          na
        71.8              60.3              45.4              77.9             32.5             19.2             14.2             14.6              na                na           na          na          na
                                   (Dinars per US dollar)
          5.9              10.0             11.7              66.5             67.7             59.0             54.6             57.9             72.2             70.3           na          na          na
          5.7               9.3             11.1              54.9             66.8             64.2             57.5             58.7             67.2             70.1           na          na          na


                                 (In millions of US dollars)
       -1,282              -660              -764              -327            -528           -1,384           -1,996           -3,016           -2,275           -2,913           na          na          na
       -2,070            -1,816            -1,619            -1,788          -2,834           -3,908           -4,887           -7,344           -6,422           -6,730           na          na          na
        2,756             3,033             1,676             1,923           2,003            2,412            3,054            4,044            5,055            6,082           na          na          na
        4,826             4,849             3,295             3,711           4,837            6,320            7,941           11,388           11,477           12,812           na          na          na
          740               113               112                25             165              562            1,405            1,031            2,020            2,000           na          na          na
           na                na               289               516           1,169            2,280            3,557            4,302            5,900            6,900           na          na          na
        9,770            10,539            10,744          11,403            11,948           11,839           14,303           14,876           16,021           16,276           na          na          na
                       (In months of imports of goods and services)
          na                 na                1.0               1.5            2.7              4.0              4.9              4.2              5.4              5.7           na          na          na
                       (In per cent of exports of goods and services)
          3.0                1.9               4.7               2.2            3.9              5.6             10.8             17.1             24.4             23.9           na          na          na


        10.6              10.6               8.4                8.3              8.3              8.3              8.3              8.3              8.3              8.3          na          na          na
         112               146              193                382              772              998            1,189            1,421            1,745            2,069           na          na          na
       1,855             1,475            2,071                834            1,386            1,867            2,485            2,907            3,117            3,546           na          na          na
        26.0              26.1             25.5               26.0             27.2             34.3               na               na               na               na           na          na          na
        29.4              19.0             25.1               17.6             17.2             19.3               na               na               na               na           na          na          na
         -6.5              -4.2             -4.4               -4.7             -4.6             -8.9             -9.6           -12.5              -8.8             -9.9          na          na          na
          na                na           10,455             10,887           10,779            9,559           10,746           10,574           10,121            9,376           na          na          na
        49.7              67.3             61.8              164.0            103.5             76.1             69.1             61.4             61.7             55.1           na          na          na
       273.4             267.0            500.4              447.7            435.6            365.3            341.8            261.4            227.5            197.1           na          na          na
2010



       na
       na
       na


       na
       na

       na


       na
       na
       na
       na


       na
       na


       na
       na

       na


       na
       na
       na
       na

       na
       na



       na
       na
       na
       na
       na
       na
       na

       na

       na


       na
       na
       na
       na
       na
       na
       na
       na
       na
Slovak Republic
                                                                                       1989               1990                1991            1992             1993          1994        1995 1996
                                                                                                                                                                       Estimate     Projection
                          1
Output and expenditure                                                                                                  (Percentage change in real terms)
GDP                                                                                     1.4                -0.4           -15.9             -6.7               -3.7        6.2            5.8             6.1
   Private consumption                                                                  3.6                 4.5           -28.4             -6.4               -1.5        1.0            5.4             7.9
   Public consumption                                                                   8.7                 0.8           -17.8              9.9               -2.2      -10.7            3.6            17.2
   Gross fixed capital formation                                                        na                  na               na              na                -1.2       -2.5            0.6            29.1
   Exports of goods and services                                                        na                  na               na              na                -0.5       14.8            4.5            -1.1
   Imports of goods and services                                                        na                  na               na              na                -0.8       -4.7           11.6            19.7
Industrial gross output                                                                 na                 -6.0           -22.3             -9.6               -5.4        6.8            8.3             2.5
Agricultural gross output                                                               na                 -7.8             -9.0          -21.7                -8.1        4.8            2.3             2.0
Employment                                                                                                                       (Percentage change)
Labour force (annual average)                                                           na                  0.6               -1.2             -0.2            -0.2           na          1.1             1.6
Employment (annual average)                                                             na                 -2.6               -7.0              1.0            -2.6           na          1.7             3.6

Unemployment (end-year)                                                                 na                 1.2                 9.5            10.4            14.4           13.6        13.1            11.3
Prices and wages                                                                                                                 (Percentage change)
Consumer prices (annual average)                                                        2.3               10.8                61.2            10.0            23.2           13.4         9.9             5.8
Consumer prices (end-year)                                                              na                18.4                58.3             9.1            25.1           11.7         7.2             5.4
Producer prices (annual average)                                                        na                 4.8                68.8             5.3            17.2           10.0         9.0             4.1
Producer prices (end-year)                                                              na                 na                 50.6             6.1            18.8            9.4         7.1             4.7
Gross average monthly earnings in economy (annual average)                              na                 3.1                14.3            20.5            18.4           17.0        14.3            13.3
Government sector2                                                                                                              (In per cent of GDP)
General government balance3                                                             na                  na                 na             -11.9           -5.7           -1.4         0.4            -1.3
General government expenditure                                                          na                  na                 na              58.0           78.8           57.8        53.7            60.7
General government debt                                                                 na                  na                 na                na           28.3           24.8        22.1            31.2
                   4
Monetary sector                                                                                                                 (Percentage change)
Broad money (M2, end-year)                                                              na                  na                 na              na             16.8           20.1        19.1            16.6
Domestic credit (end-year)                                                              na                  na                 na              na              na             2.9         7.6            14.4

Broad money (M2, end-year)                                                              na                  na                 na             64.3            60.7           60.5        61.4            64.3
Interest and exchange rates                                                                                             (In per cent per annum, end-year)
Refinancing rate                                                                        na                  na               na               na               na             na          na              9.7
3-month BRIBOR                                                                          na                  na               na               na               na             na          na             14.9
Deposit rate5                                                                           na                  na               na               na               8.7            9.2         8.2             6.2
Lending rate5                                                                           na                  na               na               na              14.1           14.4        14.8            13.2

Exchange rate (end-year)6                                                             14.3                28.0                27.8            28.9            33.2           31.3        29.6            31.9
Exchange rate (annual average)6                                                       15.1                18.0                29.5            28.3            30.8           32.0        29.7            30.7
External sector

Current account                                                                         na                 na               na                 na            -601.2      665.0         391.4         -2,098.1
Trade balance                                                                           na                 na               na              -714.0           -932.0       58.5        -227.5         -2,292.6
   Merchandise exports                                                                  na                 na               na             6,515.0          5,447.4    6,691.1       8,579.0          8,831.0
   Merchandise imports                                                                  na                 na               na             7,229.0          6,379.3    6,632.5       8,806.5         11,123.5
Foreign direct investment, net                                                         10.3               24.1             82.0              100.0            106.5      236.3         194.0            199.0
Gross reserves, excluding gold (end-year)                                               na                 na               na                 na             395.0    1,690.5       3,363.9          3,418.8
External debt stock                                                                 1,816.1            2,003.9          2,635.9            2,828.8          3,380.0    4,659.9       5,678.0          7,669.5
                                                                                                                                                                                                                (In
Gross reserves, excluding gold (end-year)                                               na                  na                 na              na               0.6           2.5         3.8             3.1
                                                                                                                                                                                                                (In p
Debt service due                                                                        na                  na                 na              na               8.6           8.8         9.3            10.8
Memorandum items                                                                                                          (Denominations as indicated)
Population (end-year, million)                                                          5.2                5.2              5.3              5.3                5.3        5.3           5.3              5.4
GDP (in billions of euros)6                                                           267.0              277.9            319.7           332.3               411.4      495.6         581.5            647.2
GDP per capita (in US dollars)                                                      3,390.9            2,948.1          2,060.3         2,220.5             2,518.7    2,898.1       3,655.9          3,940.5
Share of industry in GDP (in per cent)                                                  na                 na               na             35.2                29.3       24.6          29.1             29.5
Share of agriculture in GDP (in per cent)                                               na                 na               na               5.7                5.4        5.9           4.9              4.6
Current account/GDP (in per cent)                                                       na                 na               na               na                -4.5        4.3           2.0             -9.9
External debt - reserves (in US$ million)                                               na                 na               na               na             2,985.0    2,969.4       2,314.1          4,250.7
External debt/GDP (in per cent)                                                        10.3               13.0             24.3            24.1                25.3       30.1          29.0             36.3
External debt/exports of goods and services (in per cent)                               na                 na               na               na                45.7       52.1          51.8             70.4


1                                                                                             4
    Due to a revision of GDP data for the period 2000 to 2005, no consistent                      Until 2002 monetary data are compiled in national methodology. From 2003
    growth rates are available for the year 2000 for the following items:                         they are compiled in the harmonised ECB methodology.
                                                                                              5
    private and public consumption, gross fixed capital formation and exports and                 Weighted average over all maturities.
                                                                                              6
    imports of goods and services.                                                                Slovak koruna until 2000.
2
    General government includes central government, municipalities and
    extra-budgetary funds. Calculations according to Eurostat
3
    The general government balance excludes privatisation revenues and is
    calculated according to Eurostat methodology (ESA95). In line with the Euro-
    stat derogation the second pillar pension funds are included from 2005.
1997              1998              1999             2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



            4.6               4.2              1.5              2.0                3.5               4.6               4.8               5.0               6.7               8.5              10.6               6.2              -4.7
            5.5               6.5              3.2              na                 5.5               5.7               1.7               4.6               6.5               5.9               6.9               6.0              -0.7
           -5.4              12.5             -7.1              na                 5.4               3.0               4.3              -2.9               3.9               9.7               0.1               5.3               2.8
           15.0              11.0            -19.6              na                13.0               0.2              -2.7               4.8              17.5               9.3               9.1               1.8             -10.5
           17.6              12.8              5.0              na                 6.9               5.2              15.9               7.4              10.0              21.0              14.3               3.2             -16.5
           14.2              16.5             -6.7              na                13.5               4.4               7.4               8.3              12.4              17.8               9.2               3.1             -17.6
            1.7               3.4             -2.1              8.5                6.8               6.3               5.0               4.1               3.2              10.1              12.7               3.4             -13.7
           -1.0              -5.9              1.0            -14.2                8.9              -1.8              -9.6               1.5             -10.7              -2.4               5.6              -0.3             -21.5


            0.5               0.9               1.1              1.4               1.7              -0.9               0.2               0.9              -0.5               0.3              -0.2               1.6               0.0
           -0.9              -0.3              -3.0             -1.4               1.0               0.2               1.8               0.3               2.1               3.8               2.4               3.2              -2.8
                                  (In per cent of labour force)
           11.8              12.5              16.2             18.6              19.2              18.5              17.4              18.1              16.2              13.3              11.0               9.6              12.1


            6.1               6.7             10.6             12.0                7.3               3.0               8.5               7.5               2.5               4.5               2.8               4.6               1.6
            6.4               5.6             14.2              8.3                6.2               3.3               9.3               5.9               3.4               4.3               3.4               4.4               0.5
            4.5               3.3              3.8              9.8                6.6               2.2               8.9               3.4               3.9               8.0               2.2               5.8              -2.2
            4.4               1.6              7.7              8.9                3.8               2.2               9.5               3.5               6.2               5.6               2.5               6.4              -5.0
           13.1               8.4              7.2              6.5                8.2               9.3               6.3              10.2               9.2               8.6               7.4               8.1               3.0


           -5.2              -5.0             -7.1            -12.3               -6.5              -8.2              -2.8              -2.4              -2.8              -3.2              -1.8              -2.1              -7.9
           64.5              60.4             56.8             52.2               44.5              45.1              40.2              37.7              38.0              36.6              34.3              34.9              41.3
           33.8              34.5             47.9             50.3               48.9              43.4              42.4              41.5              34.2              30.5              29.6              27.8              35.4


            9.1               2.7             13.0             14.1               13.1               4.9               5.2               5.7               5.8               8.2              11.8               5.5               6.4
            3.1              11.2              7.5              9.1               16.4             -10.1              10.2              14.1              14.9              23.3              20.3              25.5             -10.9
                                     (In per cent of GDP)
           63.2              59.2             62.3             64.0               66.7              64.3              61.3              58.3              56.5              54.8              54.7              52.9              59.7


           19.2              11.3           8.7                 8.0                7.8               6.5               6.0               4.0               3.0               4.8               4.3               2.5               2.5
           26.5              18.3          14.3                 7.9                7.8               6.0               6.0               3.7               3.1               4.8               4.3               3.2               0.7
            8.7              10.4           9.9                 8.5                6.5               6.6               5.3               4.1               2.4               3.6               3.7               3.8               na
           16.2              16.2          13.5                14.9               11.2              10.3               8.5               9.1               6.7               7.7               8.0               5.7               na
                                  (Korunas per US dollar)
           34.8              36.9          42.1                 1.1                1.1               1.0               0.8               0.7               0.8               0.8               0.7               0.7               0.7
           33.6              35.2          41.4                 1.1                1.1               1.1               0.9               0.8               0.8               0.8               0.7               0.7               0.7


                                   (In millions of US dollars)
       -1,952.3           -2,059.2          -1,082.9           -701.7         -1,746.5          -1,924.2          -1,971.6          -3,297.4          -4,065.0          -4,309.8          -3,994.5          -6,195.0          -2,808.4
       -2,081.0           -2,292.5          -1,103.1           -904.2         -2,125.2          -2,116.6            -637.3          -1,536.2          -2,385.2          -2,531.8            -865.3          -1,007.5           1,647.4
        9,638.8          10,666.8          10,197.4         11,872.4          12,644.5          14,382.2          21,843.2          27,621.2          31,914.8          41,477.8          57,489.5          69,921.8          55,126.1
       11,719.8          12,959.3          11,300.5         12,776.5          14,769.7          16,498.8          22,480.4          29,157.4          34,299.9          44,009.7          58,354.8          70,929.3          53,478.7
           83.5              373.5             701.4         1,896.6           1,519.6           4,130.1           1,913.4           3,051.8           2,278.8           4,177.5           2,881.0           3,155.9            -481.2
        3,230.4            2,868.8           3,370.7         4,022.3           4,141.0           8,702.7          11,678.1          14,418.8          14,924.0          12,684.8          17,674.8          17,854.1             689.3
        9,896.0          11,902.0          10,517.9         10,804.2          11,268.5          13,188.2          18,090.2          23,763.6          27,052.5          32,206.0          44,308.7          52,526.7          65,314.1
                         (In months of imports of goods and services)
            2.8                2.3               3.1              3.3              3.0               5.5               5.3               5.3               4.6               3.1               3.3               2.7               0.1
                         (In per cent of exports of goods and services)
           12.7               11.6              16.8             17.4             19.5              11.3              14.3              10.8              11.7               4.7               3.8               3.4               4.2


            5.4               5.4              5.4              5.4                5.4               5.4               5.4               5.4               5.4               5.4               5.4               5.4               5.4
          717.7             787.3            845.6             31.2               33.9              36.8              40.6              45.1              49.3              55.0              61.5              67.2              63.3
        3,977.2           4,155.3          3,794.4          5,328.0            5,619.3           6,419.9           8,482.8          10,370.7          11,525.0          12,776.9          15,541.1          18,180.7          16,244.5
           26.8              25.5             24.6             26.0               25.8              24.2              25.9              27.1              26.4              28.3              27.9              27.0              23.2
            4.4               4.0              4.0              4.0                4.2               4.6               4.1               3.6               3.2               3.2               3.2               2.8               2.4
           -9.1              -9.2             -5.3             -2.4               -5.8              -5.6              -4.3              -5.9              -6.5              -6.2              -4.7              -6.3              -3.2
        6,665.6           9,033.2          7,147.2          6,781.9            7,127.5           4,485.5           6,412.1           9,344.8          12,128.5          19,521.2          26,633.9          34,672.6          64,624.8
           46.4              53.3             51.4             37.6               37.2              38.1              39.5              42.4              43.4              46.6              52.7              53.4              74.3
           83.8              91.8             86.3             76.5               74.5              76.8              72.0              75.8              74.5              68.7              68.7              67.0             106.4
2010



            4.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            1.5
            1.0
            na
            na
            na


           -7.5
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



       -1,357.9
          900.0
       60,000.0
       59,100.0
        1,500.0
            na
            na

            na

            na


            na
           66.9
            na
            na
            na
           -1.5
            na
            na
            na
Slovenia
                                                                                       1989                1990                1991             1992            1993      1994         1995 1996
                                                                                                                                                                       Estimate   Projection

Output and expenditure                                                                                                  (Percentage change in real terms)
GDP                                                                                    -1.8                -7.5             -8.9            -5.5                2.8        5.3          4.1           3.7
   Private consumption                                                                  na                  na            -10.9             -3.6               13.8        4.0          9.1           3.1
   Public consumption                                                                   na                  na              -0.3            -1.7                5.3        2.1          2.5           2.9
   Gross fixed capital formation                                                        na                  na            -11.5           -12.9                10.7       14.1         16.8          10.4
   Exports of goods and services                                                        na                  na            -20.1           -23.5                 0.6       12.3          1.1           2.7
   Imports of goods and services                                                        na                  na            -22.4           -22.9                17.6       13.1         11.3           2.3
Industrial gross output                                                                 1.1               -10.5           -12.4           -12.8                -2.7        0.0          0.0           0.0
                          1
Agricultural gross output                                                               na                  na              -2.5            -6.7               -4.2        4.2          1.6           3.5
Employment2                                                                                                                       (Percentage change)
Labour force (end-year)                                                                -0.5                -2.1                -4.2             -1.6             5.2       0.5          1.7           -0.6
Employment (end-year)                                                                  -1.2                -3.9                -7.8             -5.1            -2.3       0.7          3.6           -0.5

Unemployment (end-year)                                                                 na                  na                  7.3              8.3             9.1       9.1          7.2            6.9
Prices and wages                                                                                                               (Percentage change)
Consumer prices (annual average)                                                    1,285.3              551.6             115.0           207.3               32.9       21.0         13.5           9.9
Consumer prices (end-year)                                                          2,818.1              100.7             240.6            92.0               22.8       19.5          9.0           9.0
Producer prices (annual average)                                                    1,413.3              390.4             124.1           215.7               21.6       17.7         12.8           6.8
Producer prices (end-year)                                                          2,829.6               43.9             311.8            76.2               18.6       18.2          7.9           5.8
Gross average monthly earnings in economy (annual average) 3                            na               379.6              65.4           205.0               47.2       25.3         18.4          15.3
Government sector4                                                                                                                (In per cent of GDP)
General government balance                                                              na                  na                  2.6               1.2           0.9        0.0          0.0           0.3
General government expenditure                                                          na                  na                 41.1              44.1          45.5       44.9         54.0          45.6
General government debt                                                                 na                  na                  na               45.6          21.1       18.5         17.4          21.0
Monetary sector                                                                                                                  (Percentage change)
Broad money (M2, end-year)                                                              na                  na                  na           151.0             62.6      124.5         29.0          21.8
Domestic credit (end-year)                                                              na                  na                  na            90.1            101.4       27.2         33.6          14.5

Broad money (M2, end-year)                                                              na                  na                 21.2            18.3            21.1       36.7         36.5          38.5
Interest and exchange rates                                                                                              (In per cent per annum, end-year)
Discount rate                                                                           na                  na               25.0             25.0             18.0       17.0         12.8          13.3
Interbank market rate (average)                                                         na                  na                na              60.4             34.7       29.1         12.2          14.0
Deposit rate (average 31-90 days)                                                       na                  na                na              48.3             30.2       28.1         15.4          15.1
Lending rate (average short-term working capital)                                       na                  na                na              72.2             42.6       38.9         23.4          22.6

Exchange rate (end-year)                                                                0.9                 0.7                 0.8              0.8             0.9       0.8          0.8            0.8
Exchange rate (annual average)                                                          0.9                 0.8                 0.8              0.8             0.9       0.8          0.8            0.8
External sector

Current account                                                                     1,088.5               518.3            129.1              926.2            191.9     574.8       -74.7            55.5
Trade balance                                                                         192.2              -608.8           -262.2              791.1           -154.2    -336.5      -953.9          -826.1
   Merchandise exports                                                              3,408.5             4,117.8          3,869.1            6,682.9          6,082.9   6,831.7     8,350.2         8,352.6
   Merchandise imports                                                              3,216.3             4,726.6          4,131.3            5,891.8          6,237.1   7,168.2     9,304.1         9,178.7
Foreign direct investment, net                                                        -14.3                -2.1            -41.3              112.9            111.3     129.4       160.5           166.5
Gross reserves, excluding gold (end-year) 5                                             na                  na             112.1              715.5            787.7   1,498.0     1,811.2         2,306.9
External debt stock                                                                     na              1,954.0          1,866.0            1,741.0          1,873.0   4,543.6     5,453.2         6,699.3
                                                                                                                                                                                                             (In
Gross reserves, excluding gold (end-year) 6                                             na                  na                  0.3              1.2             1.3       2.1          2.1            2.6
                                                                                                                                                                                                             (In p
Debt service7                                                                           na                  5.7                 7.0              4.9             5.0        na           na            na
Memorandum items                                                                                                           (Denominations as indicated)
Population (end-year, million)                                                         2.0                 2.0               2.0              2.0                2.0       2.0         2.0             2.0
GDP (in billions of euros)                                                             0.1                 0.8               1.5              4.2                6.0       7.7        10.0            11.6
GDP per capita (in US dollars)                                                        81.1               526.4             904.4         2,754.7             3,525.4   4,609.8     6,592.0         7,385.9
Share of industry in GDP (in per cent)                                                39.8                33.4              36.0            32.1                29.3      30.3        25.5            25.4
Share of agriculture in GDP (in per cent)                                              4.4                 5.0               5.2              5.2                4.5       4.0         3.6             3.4
Current account/GDP (in per cent)8                                                   679.9                49.6               7.1            16.8                 2.7       6.3        -0.5             0.3
External debt - reserves (in US$ million)                                              na                  na            1,753.9         1,025.5             1,085.3   3,045.5     3,642.0         4,392.5
External debt/GDP (in per cent)9                                                       na                186.9             103.2            31.6                26.7      47.9        42.6            46.5
External debt/exports of goods and services (in per cent)1 0                           na                 33.6              38.2            22.0                34.2      50.9        53.3            64.3


1                                                                                             6
    Agricultural value-added.                                                                     Ratio calculated in euros.
2                                                                                             7
    Data based on labour force surveys (Eurostat).                                                Long-term debt only in 1999.
3                                                                                             8
    Data for enterprises employing three or more persons until 2004.                              Ratio calculated in euros.
                                                                                              9
    From 2005 onwards, data for legal persons with 1 or 2 employees                               Ratio calculated in euros.
                                                                                              1
    in the private sector also taken into account.                                            0 Ratio calculated in euros.
4
    General government includes central government, municipalities and
    extra-budgetary funds. Data calculated according to GFS methodology until
    1999. Since 2000, ESA95 methodology is used.
5
    From 1 January 2007 foreign exchange reserves of the Bank of Slovenia include
    foreign cash in convertible currencies, deposits abroad, and first class
    securities of issuers from outside the EMU in foreign currency.
1997             1998              1999             2000              2001             2002              2003              2004              2005              2006              2007              2008              2009



          4.8                3.9              5.4              4.1               3.1               4.0               2.8               4.3               4.5               5.9               6.9               3.7              -8.1
          2.6                3.1              6.1              0.7               2.6               2.5               3.3               2.7               2.6               2.9               6.7               2.9              -0.8
          3.4                4.8              3.3              2.6               3.8               3.3               2.2               3.4               3.4               4.0               0.7               6.2               3.0
         13.5                9.3             18.2              1.8               1.4               0.7               8.1               5.6               3.7              10.1              12.8               8.5             -21.6
         11.0                7.5              1.6             13.2               6.4               6.8               3.1              12.4              10.6              12.5              13.7               3.3             -17.7
         11.0                9.6              7.7              7.3               3.1               4.9               6.7              13.3               6.6              12.2              16.7               3.8             -19.7
          0.0                0.0              5.0              8.3               3.6               5.4               3.0               5.2               2.9               6.4               8.4              -1.4              -0.4
          5.4               -1.5             -6.8              0.6               0.1              14.5             -20.0              11.0              -0.7              -4.4               2.2               0.2               0.2


           3.8              -0.9              -2.4             1.7               1.7              -1.3              -0.9               4.7               1.5              -0.5               1.6               1.1              -0.3
           3.1              -0.9              -2.0             2.4               1.7              -0.7              -1.4               5.1               0.6               1.3               2.5               1.6              -1.9
                                 (In per cent of labour force)
           7.1               7.4               7.4             6.4               6.8               6.3               6.8               6.4               7.2               5.5               4.7               4.3               6.0


          8.4                8.0              6.2              8.9              8.4                7.5               5.6               3.6               2.5               2.5               3.6               5.7               0.9
          8.8                6.5              8.0              8.9              7.0                7.2               4.6               3.2               2.3               2.8               5.6               2.1               1.8
          6.1                6.0              2.2              7.6              8.9                5.1               2.5               4.4               2.8               2.4               5.5               5.6              -0.4
          6.8                3.6              3.4              9.2              7.5                3.7               2.1               5.0               1.7               3.0               6.4               3.5              -0.7
         11.7                9.6              9.6             10.6             11.9                9.8               7.5               5.7               4.9               4.8               5.9               8.3               3.4


         -1.1               -0.7             -0.6             -3.7             -4.0               -2.5              -2.7              -2.2              -1.4              -1.3               0.0              -1.8              -5.8
         46.1               46.9             46.5             46.7             47.6               46.3              46.4              45.8              45.2              44.5              42.4              44.1              49.0
         21.4               23.4             24.6             27.1             26.8               28.0              27.5              27.2              27.0              26.7              23.4              22.5              35.4


         20.5               19.4             27.8              1.0             29.9               11.0               6.2               6.6               7.8               8.2              10.6               5.2               0.4
         14.2               22.4             19.3             16.7             16.9               14.1              14.4              24.1              20.2              21.6              24.9              14.9               7.6
                                    (In per cent of GDP)
         40.9               43.9             48.7             44.8             52.1               51.6              50.5              49.9              50.7              50.8              50.5              49.2              52.0


         13.0               10.4             7.1               8.2             10.4                7.3               5.0               3.3               3.8               3.8               4.0               4.3               4.3
          9.7                7.5             6.9               7.0              6.9                4.9               5.6               4.7               4.0               3.6               4.1               4.3               0.9
         13.1               10.5             7.2              10.0              9.8                8.2               6.0               3.8               3.2               2.7               3.9               3.4               0.8
         20.0               16.1            12.4              15.8             15.1               13.2              10.8               8.7               7.8               7.1               6.4               6.4               6.0
                                    (Euros per US dollar)
           0.9               0.9             1.0                1.1              1.1               1.0               0.8               0.7               0.8               0.8               0.7               0.7               0.7
           0.9               0.9             0.9                1.1              1.1               1.1               0.9               0.8               0.8               0.8               0.7               0.7               0.7


                                  (In millions of US dollars)
          50.5             -118.0            -698.4           -547.6            37.3             243.8            -215.1            -892.4            -619.9            -997.2          -2,243.3          -3,624.3            -515.6
        -774.8             -792.0          -1,235.1        -1,138.9           -614.9            -247.8            -622.2          -1,257.5          -1,258.1          -1,487.2          -2,330.4          -3,880.3          -1,003.9
       8,405.9            9,090.9           8,623.2         8,807.9          9,348.3          10,471.1          12,916.3          16,064.6          18,145.8          21,327.0          27,093.3          29,607.1          22,501.8
       9,180.7            9,882.9           9,858.3         9,946.9          9,963.2          10,718.9          13,538.5          17,322.1          19,403.9          22,814.2          29,423.7          33,487.4          23,505.7
         303.3              221.0              58.9             70.6           225.6           1,508.0            -174.1             281.1             -67.0            -215.2            -273.4             513.6            -742.5
       3,300.3            3,621.4           3,176.9         3,228.3          4,369.1           6,846.0           8,585.9           8,822.1           8,530.3           7,033.8           8,134.1           7,431.1           6,955.7
       6,775.3            7,534.4           8,056.9         8,916.8          9,246.7          12,104.8          16,703.2          20,940.1          25,620.0          31,691.4          51,134.5          55,160.8          55,676.3
                        (In months of imports of goods and services)
           3.8                3.7               3.5              3.3             4.6               6.6               5.9               4.8               4.6               3.1               2.7               2.4               2.8
                        (In per cent of exports of goods and services)
           na                  na               na               9.5           14.8               14.6              16.6              16.9              17.5              18.4              18.4              18.3              24.1


           2.0               2.0              2.0               2.0              2.0               2.0               2.0               2.0               2.0               2.0               2.0               2.0               2.0
          13.1              14.6             16.8              18.5             20.7              23.1              25.1              27.1              28.7              31.1              34.6              37.3              35.4
       7,502.4           8,249.8          9,008.3           8,557.3          9,270.6          10,920.3          14,201.2          16,833.6          18,151.3          19,400.1          23,505.3          27,128.5          24,366.5
          25.8              26.3             24.8              25.6             25.9              25.1              25.3              24.7              24.0              23.8              23.4              22.4              23.4
           3.7               3.5              2.9               2.7              2.5               2.9               2.2               2.3               2.4               2.1               2.2               2.1               3.1
           0.3              -0.7             -4.0              -3.2              0.2               1.1              -0.8              -2.7              -1.7              -2.5              -4.8              -6.1              -1.0
       3,475.0           3,913.0          4,880.0           5,688.5          4,877.5           5,258.8           8,117.3          12,118.1          17,089.8          24,657.6          43,000.4          47,729.7          48,720.6
          46.9              44.3             47.7              51.4             50.0              55.6              52.7              56.7              71.3              77.5             100.6             105.2             113.4
          66.7              65.3             81.2              81.6             81.9              94.7              95.3              97.6             115.1             116.8             145.3             156.4             195.0
2010



            1.1
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


            1.8
            2.1
            na
            na
            na


           -5.7
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



         -487.3
       -1,200.0
       22,100.0
       23,300.0
         -200.0
            na
            na

            na

            na


            na
           36.4
            na
            na
            na
           -1.0
            na
            na
            na
Tajikistan
                                                                    1989                 1990             1991             1992              1993           1994           1995 1996
                                                                                                                                                         Estimate     Projection

Output and expenditure                                                                                (Percentage change in real terms)
GDP                                                                   3.0                 -0.6            -7.1          -29.0               -16.4          -21.3          -12.4        -16.7
Industrial gross output                                               1.9                  1.9            -7.4          -35.7                -7.8          -25.4          -13.6        -24.0
Agricultural gross output                                           -13.1                 -9.1            -4.4          -26.7                -4.4           -8.4          -13.4        -17.8
Employment                                                                                                   (Percentage change)
Labour force (annual average)                                        na                    3.9             1.7             -2.7              -2.1               0.5         0.2         -6.0
Employment (annual average)                                          3.2                   3.2             1.7             -3.1              -2.8               0.0        -0.1         -6.6

Unemployment (annual average)1                                        na                   0.0             0.0              0.4               1.2               1.7         2.0          2.6
Prices and wages                                                                                            (Percentage change)
Consumer prices (annual average)                                     2.0                   5.6          111.6         1,156.7             2,600.7          350.4         612.5         418.5
Consumer prices (end-year)                                           na                    na           204.0         1,364.0             7,344.0            1.1       2,144.2          40.5
Producer prices (annual average)                                     na                    na           163.0         1,320.0             1,080.0          327.8       1,080.0         449.0
Producer prices (end-year)                                           na                    na           184.0         5,926.0             5,995.9          301.9         628.3          77.7
Gross average monthly earnings in economy (annual average)           na                    9.9           64.3           461.5               746.3          116.1         164.2         219.6
Government sector2                                                                                           (In per cent of GDP)
General government balance                                           0.9                 -2.2            -15.7             -31.2            -22.3          -10.1          -7.8          -5.8
General government expenditure                                      28.1                 35.6             43.2              57.9             46.5           52.9          19.3          19.0
General government debt                                              na                   na               na                 na              0.0           75.5         118.7          75.5
Monetary sector                                                                                              (Percentage change)
Broad money (M2, end-year)                                            na                 19.5            -15.0           579.0            1,520.6          159.4          -19.4         93.2
Domestic credit (end-year)                                            na                  na               na               na                na             na             na          94.0

Broad money (M2, end-year)                                          82.4                 93.3            42.8             60.7              90.0            92.4           19.1          8.3
Interest and exchange rates                                                                           (In per cent per annum, end-year)
Monetary policy rate                                                  na                   na              na               na               na              na          152.5          72.0
Deposit rate (up to 3 months)                                         na                   na             30.0             30.0             30.0            30.0         100.0         109.0
Lending rate (up to 3 months)                                         na                   na             30.0             30.0             30.0            30.0         500.0         122.0

                            3
Exchange rate (end-year)                                             0.0                   0.0             0.0              0.0               0.0               0.0         0.3          0.3
Exchange rate (annual average)3                                      0.0                   0.0             0.0              0.0               0.0               0.0         0.1          0.3
External sector

Current account                                                       na                  na              na             -48.8             -187.4         -144.4        -101.8         -82.4
Trade balance                                                    -1,712.8            -1,196.1           301.2            -54.8             -177.2         -121.9         -59.4         -15.7
   Merchandise exports                                            3,802.0             2,474.4         2,545.7            184.8              458.9          561.5         778.6         770.1
   Merchandise imports                                            5,514.8             3,670.5         2,244.5            239.6              636.1          683.3         838.0         785.8
Foreign direct investment, net                                        0.0                 0.0             0.0              9.0                9.0           12.0           9.8          17.6
Gross reserves, excluding gold (end-year)                             na                  na              na               na                 2.0            1.0           4.0          14.0
External debt stock                                                   na                  na            674.8            217.0              521.5          774.3         867.2         941.2
                                                                                                                                                                                               (In
Gross reserves, excluding gold (end-year)                             na                   na              na               na                0.0               0.0         0.1          0.2
                                                                                                                                                                                               (In p
Debt service                                                         0.0                   0.0             0.0              0.0               7.0           23.3           21.2         14.1
Memorandum items                                                                                        (Denominations as indicated)
Population (end-year, million)                                       5.2                  5.3             5.4              5.5               5.6             5.7           5.9           5.9
GDP (in millions of somoni)                                          0.1                  0.1             0.1              0.6               7.1            17.9          69.8         308.5
GDP per capita (in US dollars)                                     211.5                232.7            74.1            51.8              123.9           142.4         114.1         177.0
Share of industry in GDP (in per cent)4                             36.2                 37.6            36.4            49.6               41.9            32.6          37.6          29.2
Share of agriculture in GDP (in per cent) 4                         32.1                 33.3            36.1            29.5               21.0            19.1          36.7          36.0
Current account/GDP (in per cent)                                    na                   na              na            -17.1              -27.0           -17.8         -15.2          -7.8
External debt - reserves (in US$ million)                            na                   na              na               na              519.5           773.3         863.2         927.2
External debt/GDP (in per cent)                                      na                   na            168.0            75.9               75.1            95.6         129.7          89.4
External debt/exports of goods and services (in per cent)            na                   na             21.2            93.9              110.2           133.1         107.4         117.7


1                                                                           3
    Officially registered unemployed.                                           Tajik roubles (until October 2000) have been converted to somoni.
2                                                                           4
    Includes externally financed public investment programmes.                  Figures are based on current prices. Variations in the shares reflect changes
                                                                                in relative prices.
1997             1998              1999             2000              2001             2002             2003             2004             2005             2006             2007              2008              2009



           1.7               5.3              3.7               8.3            10.2              9.1             10.2             10.6               6.7              7.0               7.8               7.9               3.4
          -2.1               8.1              5.0              10.3            14.4              6.3              9.9             13.8               8.5              6.7               9.9              -3.5              -6.3
           3.6               6.3              3.8              12.4            11.0             14.0              9.1             11.3               3.1              4.8               6.5               7.9               na


           3.7               0.7              -3.5             0.2               4.3              1.7              1.5            10.4               1.0              1.4               0.7               0.7              -3.0
           3.5               0.3              -3.3             0.5               4.8              1.5              1.5            10.8               1.1              1.2               0.6               0.8              -2.9
                                 (In per cent of labour force)
           2.8               3.2               3.0             2.7               2.3              2.5              2.4              2.0              1.9              2.2               2.3               2.2               2.1


         88.0               43.2             27.5              32.9            38.6             12.2             16.4              7.2              7.3             10.0               13.1              20.5               6.4
        163.6                2.7             30.1              60.6            12.5             14.5             13.7              5.7              7.1             12.5               19.8              11.9               5.0
         95.7               27.8             41.2              43.5            28.7              9.3             15.0             17.1             -1.0             22.0               18.4              20.6               1.1
        121.7                5.9             64.0              33.9             9.4             18.3             14.1             15.1              2.9             21.5               16.7              -5.6              48.5
         68.3               84.8             35.2              30.6            50.7             38.0             37.6             36.3             41.1             36.7               39.4              43.1              25.4


         -4.1               -3.8            -3.1               -5.6            -3.1             -2.4             -1.8             -2.4             -3.1              1.7               -6.2              -5.9              -5.2
         20.8               15.8            17.5               19.4            18.0             19.0             19.1             20.3             23.0             21.8               28.6              28.1              29.5
         85.7               96.6           107.8               93.4            94.3             82.6             66.5             42.9             41.5             34.3               34.9              30.0              41.0


        110.7               29.3             29.8              69.3            40.0             55.3             42.0             51.6             30.2             63.4               78.8               6.0              32.8
        201.8              179.7             23.4              14.5            95.0             14.0             -6.5             52.7             32.7             27.2               71.0              19.6               6.6
                                    (In per cent of GDP)
         10.4                6.8              6.8               8.6              8.4              9.9            10.0             11.7             13.0             16.4               21.4              16.4              18.7


         76.0               36.4            20.1               20.6            20.0             24.8             15.0             10.0              9.0             12.0               15.0              13.5               8.0
         23.9                9.8             5.2                1.3             5.2             11.6             14.6              8.6              8.6              8.2                5.5               5.4               8.5
         75.5               50.9            26.2               25.6            21.1             13.4             15.6             21.3             25.6             26.7               22.5              19.6              25.8
                                (Tajik somoni per US dollar)
           0.7               1.0             1.4                2.2              2.5              3.0              2.9              3.0              3.2              3.4               3.5               3.5               4.4
           0.6               0.8             1.2                1.8              2.4              2.8              3.1              3.0              3.1              3.3               3.4               3.4               4.1


                                  (In millions of US dollars)
         -45.0              -96.6              -9.9           -16.1            -52.3            -42.9            -19.9            -81.6            -61.9            -78.8            -318.8            -393.0            -245.0
         -60.7             -138.8            -27.0            -23.0           -104.5            -93.9           -103.1           -151.2           -622.0           -986.4          -1,673.0          -2,721.7          -1,929.0
         745.7              586.1            665.6            788.2            672.6            730.4            900.0          1,087.8            345.7            349.5             385.2             457.3             458.0
         806.4              724.9            692.6            811.2            777.0            824.3          1,003.2          1,239.0            967.7          1,335.9           2,058.1           3,179.0           2,387.0
          18.3               24.8             21.0             23.5              9.5             36.1             31.6            272.0             54.6             65.9             160.0             300.0              35.0
          30.0               65.3             58.1             87.2             95.7             96.0            135.0             64.0             91.0            111.0              85.0             150.0             278.0
       1,081.0            1,215.7          1,233.2          1,223.8          1,272.7          1,272.0          1,302.6          1,170.3          1,190.0          1,200.5           1,519.8           2,410.9           2,680.2
                        (In months of imports of goods and services)
           0.4                1.0               1.0             1.2              1.4              1.2              1.4              0.5              0.9              0.8               0.4               0.5               1.2
                        (In per cent of exports of goods and services)
           3.1                4.6               4.3             6.6            13.5             13.3             11.2             28.1             17.9             32.7               13.2              15.0              23.2


           6.0               6.1              6.2              6.1               6.2              6.2              6.3              6.3              6.3              6.4               6.4               6.5               6.5
         518.4           1,025.2          1,345.0          1,786.8           2,563.8          3,375.3          4,761.4          6,167.2          7,206.6          9,335.2          12,804.4          17,706.9          20,622.8
         153.1             216.3            175.1            158.8             173.9            194.8            248.2            329.0            364.6            443.5             579.4             799.2             766.2
          25.9              25.0             27.5             35.6              36.5             35.5             33.4             28.3             27.7             23.6              24.0              23.6              21.0
          32.0              25.1             25.4             25.1              23.8             22.2             24.2             19.2             21.2             21.4              19.8              21.7              19.9
          -4.9              -7.3             -0.9             -1.6              -4.9             -3.5             -1.3             -3.9             -2.7             -2.8              -8.6              -7.6              -4.9
       1,051.0           1,150.4          1,175.1          1,136.6           1,177.0          1,176.0          1,167.6          1,106.3          1,099.0          1,089.5           1,434.8           2,260.9           2,402.2
         117.6              92.1            113.5            125.6             118.3            104.9             83.8             56.4             51.5             42.4              40.9              46.3              51.6
         134.4             188.3            171.8            144.0             173.2            159.1            132.3             96.7            197.9            182.9             198.2             278.7             360.6
2010



            5.5
            na
            na


            na
            na

            na


            7.5
           10.0
            na
            na
            na


           -4.4
            na
            na


            na
            na

            na


            na
            na
            na

            na
            na



         -200.0
       -2,140.0
          468.0
        2,608.0
           90.0
            na
            na

            na

            na


            na
       23,379.4
            na
            na
            na
           -3.6
            na
            na
            na
Turkey
                                                                 1989       1990       1991             1992             1993       1994         1995 1996
                                                                                                                                 Estimate   Projection

Output and expenditure                                                             (Percentage change in real terms)
GDP                                                               na         9.3       0.9              6.0               8.0        -5.5         7.2             7.0
   Private consumption                                            na         na         na              na                na          na          na              na
   Public consumption                                             na         na         na              na                na          na          na              na
   Gross fixed capital formation                                  na         na         na              na                na          na          na              na
   Exports of goods and services                                  na         na         na              na                na          na          na              na
   Imports of goods and services                                  na         na         na              na                na          na          na              na
Industrial gross output                                           na         na         na              na                na          na          na              na
Agricultural gross output                                         na         na         na              na                na          na          na              na
Employment                                                                                (Percentage change)
Labour force (end-year)1                                          na         0.7        1.9             0.3              -0.2        3.2          2.3             1.1
Employment (end-year)                                             na         1.4        2.1             0.2               0.2        2.8          3.7             2.0

Unemployment (end-year)                                           8.9        8.2        7.9              8.1              7.8        8.1          6.9             6.0
Prices and wages                                                                          (Percentage change)
Consumer prices (annual average)                                 60.0       57.3       62.9            72.0             65.2       104.3         89.6            80.2
Consumer prices (end-year)                                       66.7       50.0       73.3            65.4             69.8       119.2         76.3            80.1
Producer prices (annual average)                                  na         na         na               na              na          na           na              na
Producer prices (end-year)                                        na         na         na               na              na          na           na              na
Gross average monthly earnings in economy (annual average)        na         na         na               na              na          na           na              na
Government sector                                                                         (In per cent of GDP)
General government balance                                       -3.3       -3.4       -5.3               -4.3          -6.8        -3.9         -4.1            -8.3
General government expenditure                                   17.1       17.4       20.7              20.3           24.5        23.3         22.2            26.8
General government debt                                          41.8       33.8       37.5              40.0           41.0        53.8         44.2            45.0
Monetary sector                                                                           (Percentage change)
Broad money (M2, end-year)                                        na         na          na              na               na          na           na             na
Domestic credit (end-year)                                        na         na          na              na               na          na           na             na

Broad money (M2, end-year)                                        na         na          na               na              na          na           na             na
Interest and exchange rates                                                         (In per cent per annum, end-year)
Discount rate                                                     na         na          na               na            48.0        55.0        50.0             50.0
Interbank money market rate                                       na         na          na               na            69.6        92.0       106.3             74.0
Deposit rate                                                      na         na          na               na             na          na          na               na
Lending rate                                                      na         na          na               na             na          na          na               na

Exchange rate (end-year)                                          na         na          na               na              0.0        0.0          0.1             0.1
Exchange rate (annual average)                                    na         na          na               na              0.0        0.0          0.0             0.1
External sector

Current account                                                 938.0   -2,625.0      250.0          -974.0          -6,433.0    2,631.0     -2,338.0     -2,437.0
Trade balance                                                -4,111.0   -9,427.0   -7,280.0        -8,051.0         -14,044.0   -4,134.0    -13,114.0    -10,264.0
   Merchandise exports                                       11,780.0   13,026.0   13,667.0        14,891.0          15,611.0   18,390.0     21,975.0     32,067.0
   Merchandise imports                                       15,891.0   22,453.0   20,947.0        22,942.0          29,655.0   22,524.0     35,089.0     42,331.0
Foreign direct investment, net                                  663.0      700.0      783.0           779.0             622.0      559.0        772.0        612.0
Gross reserves, excluding gold (end-year)                         na         na         na              na            6,271.5    7,169.3     12,441.8     16,435.8
External debt stock                                          43,879.0   52,377.0   53,623.0        58,595.0          70,512.0   68,705.0     75,948.0     79,299.0
                                                                                                                                                                        (In
Gross reserves, excluding gold (end-year)                         na         na          na               na              2.2        3.3          3.7             4.0
                                                                                                                                                                        (In p
Debt service due                                                 16.0       15.5       15.6             14.3            13.8        13.8         12.0             9.5
Memorandum items                                                                     (Denominations as indicated)
Population (end-year, million)                                  51.3       52.4       53.5            54.5            55.6          56.5        57.5             58.5
GDP (in billions of liras)                                       0.2        0.4        0.6              1.1            2.0           3.9         7.8             14.8
GDP per capita (in US dollars)                                   na         na         na               na         3,245.4       2,310.4     2,944.4          3,102.8
Share of industry in GDP (in per cent)                           na         na         na               na             na            na          na               na
Share of agriculture in GDP (in per cent)                        na         na         na               na             na            na          na               na
Current account/GDP (in per cent)                                na         na         na               na            -3.6           2.0        -1.4             -1.3
External debt - reserves (in US$ million)                        na         na         na               na        64,240.5      61,535.7    63,506.2         62,863.2
External debt/GDP (in per cent)                                  na         na         na               na            39.1          52.6        44.9             43.7
External debt/exports of goods and services (in per cent)      241.2      248.9      243.3           241.2           268.5         235.4       207.6            175.6


1
    Annual results of household labour force survey, 2008
1997              1998              1999              2000              2001              2002           2003           2004           2005           2006           2007           2008           2009



            7.5               3.1              -3.4               6.8              -5.7            6.2            5.3            9.4            8.4            6.9            4.7            0.7           -4.7
            na                na                0.1               5.9              -6.6            4.7           10.2           11.0            7.9            4.6            4.6            0.5            3.1
            na                na                4.0               5.7              -1.1            5.8           -2.6            6.0            2.5            8.4            6.5            1.7            7.8
            na                na              -16.2              17.5             -30.0           14.7           14.2           28.4           17.4           13.3            5.4           -8.2          -19.1
            na                na              -10.7              16.0               3.9            6.9            6.9           11.2            7.9            6.6            7.3            2.7           -5.3
            na                na               -3.7              21.8             -24.8           20.9           23.5           20.8           12.2            6.9           10.7           -4.2          -14.3
            na                na               -4.6               6.3              -9.1            4.6            7.8           11.8            8.7           10.2            5.8           -0.6          -18.1
            na                na               -5.7               7.1              -7.9            8.8           -2.0            2.8            7.2            1.4           -6.7            4.1            3.7


           -4.8               2.6               3.5             -0.7                2.0            1.9           -0.6            1.7            1.5           -0.2           -0.6            3.0            4.0
           -5.5               2.5               2.6              0.6                0.0           -0.3           -0.8            2.0            1.6            0.2           -1.0            2.2            0.4
                                  (In per cent of labour force)
            6.7               6.8               7.6              6.5                8.3           10.3           10.5           10.3           10.2            9.9           10.3            9.9           14.0


           85.7              84.7              64.9              55.0              54.2           45.1           25.3            8.6            8.2            9.6            8.8           10.4            6.3
           99.0              69.6              68.8              39.0              68.5           29.7           18.4            9.4            7.7            9.7            8.4           10.1            6.5
            na                na                na                na                na             na             na            14.6            5.9            9.3            6.3           12.7            5.9
            na                na                na                na                na             na            13.9           15.4            2.7           11.6            5.9            8.1            1.4
            na                na                na                na                na             na            32.2            7.6           12.5           14.0           15.4           17.2           17.2


           -7.8              -5.4              -8.7              -8.0             -12.1          -11.4           -8.8           -5.4           -1.3           -0.8           -1.7           -1.9           -5.5
           27.9              22.2              26.9              28.0              33.5           33.0           30.9           25.2           22.5           23.1           23.7           23.3           27.5
           44.2              31.0              39.8              38.2              75.7           70.5           63.2           57.4           51.8           46.0           39.9           40.7           45.3


            na                na                na                na               na             31.0           33.7           31.2          120.0           24.7           15.7           26.7           13.4
            na                na                na                na             100.6            31.3           16.9           18.9           28.1           17.2           19.7           20.2           18.1
                                     (In per cent of GDP)
            na                na                na                na               19.7           17.7           18.2           19.4           36.8           39.3           40.8           45.9           52.0


           67.0              67.0             60.0              60.0               60.0           55.0           43.0           38.0           23.0           27.0           25.0           25.0           15.0
           78.0              79.0             70.0             183.2               59.0           44.0           26.0           18.0           13.5           17.5           16.0           15.6            6.5
            na                na                na               na                 na             na            37.7           24.3           20.4           21.6           22.6           22.9           17.6
            na                na                na               na                 na             na            48.0           35.0           26.0           28.0           27.0           26.5           21.0
                                     (Liras per US dollar)
            0.2               0.3              0.5                0.7               1.5            1.6            1.4            1.3            1.3            1.4            1.2            1.5            1.5
            0.2               0.3              0.4                0.6               1.2            1.5            1.5            1.4            1.3            1.4            1.3            1.3            1.6


                                (In millions of US dollars)
    -2,638.0            2,000.0            -941.0        -9,920.0            3,760.0            -626.0       -7,515.0      -14,431.0      -22,137.0      -31,893.0      -38,219.0      -41,490.0      -13,854.0
   -15,048.0         -14,038.0           -9,771.0       -22,057.0           -3,363.0          -6,390.0      -13,489.0      -22,736.0      -32,988.0      -40,941.0      -46,677.0      -53,043.0      -24,729.0
    32,110.0          30,741.0          29,031.0         30,825.0           34,729.0          40,719.0       52,394.0       68,535.0       78,365.0       93,611.0      115,364.0      140,801.0      109,672.0
    47,158.0          44,779.0          38,802.0         52,882.0           38,092.0          47,109.0       65,883.0       91,271.0      111,353.0      134,552.0      162,041.0      193,844.0      134,401.0
       554.0              573.0             138.0           112.0            2,854.0             957.0        1,252.0        2,005.0        8,967.0       19,065.0       19,940.0       15,633.0        6,026.0
    18,658.3          19,488.8          23,345.9         22,488.4           18,879.2          27,068.6       33,991.0       35,669.1       50,579.0       60,891.9       73,383.9       70,428.0       70,874.0
    84,356.0          96,351.0         103,123.0       118,602.0           113,592.0         129,671.0      144,266.0      160,760.0      168,716.0      205,548.0      247,094.0      277,114.7      271,139.8
                      (In months of imports of goods and services)
            4.0             4.3               5.9             4.4                   5.1            6.1            5.6            4.2            4.9            5.0            5.0            4.0            5.6
                      (In per cent of exports of goods and services)
            9.1             9.5              12.3            13.0                  14.9           12.1           10.2            7.9            7.9            8.2            7.8            6.8            6.8


           58.1              59.0              59.9              62.8              63.8           64.9           65.9           66.9           67.9           68.1           68.9           69.7           70.4
           28.8              70.2             104.6             166.7             240.2          350.5          454.8          559.0          648.9          758.4          843.2          950.1          952.6
        3,268.2           4,562.8           4,168.9           4,247.1           3,071.5        3,585.4        4,599.0        5,861.5        7,112.9        7,792.4        9,390.4       10,504.0        8,705.6
            na               32.6              27.2              26.7              26.9           25.2           24.9           24.8           24.7           24.9           24.8           24.3           22.7
            na               12.5              11.7              14.4               8.8           10.3            9.9            9.5            9.4            8.3            7.6            7.8            8.3
           -1.4               0.7              -0.4              -3.7               1.9           -0.3           -2.5           -3.7           -4.6           -6.0           -5.9           -5.7           -2.3
       65,697.7          76,862.2          79,777.1          96,113.6          94,712.8      102,602.4      110,275.0      125,090.9      118,137.0      144,656.1      173,710.1      206,686.7      200,265.8
           44.4              35.8              41.3              44.5              58.0           55.8           47.6           41.0           34.9           38.7           38.2           37.9           44.2
          163.7             178.0             226.7             235.5             227.4          236.8          204.9          175.7          160.7          172.8          171.6          157.8          190.4
2010



         8.0
         na
         na
         na
         na
         na
         na
         na


         na
         na

         na


         8.7
         8.2
         na
         na
         na


        -4.1
         na
         na


         na
         na

         na


         na
         na
         na
         na

         na
         na



   -45,059.0
   -51,000.0
   117,000.0
   168,000.0
    10,300.0
         na
         na

         na

         na


        70.5
         na
         na
         na
         na
        -6.0
         na
         na
         na
Turkmenistan
                                                                                   1989                1990             1991             1992              1993            1994         1995 1996
                                                                                                                                                                        Estimate   Projection

Output and expenditure                                                                                              (Percentage change in real terms)
GDP1                                                                               -6.9                 2.0             -4.7            -5.3              -10.0           -17.3         -7.2           -6.7
   Private consumption                                                              na                  na               na              na                 na              na           na             na
   Public consumption                                                               na                  na               na              na                 na              na           na             na
   Gross fixed capital formation                                                    na                  na               na              na                 na              na           na             na
   Exports of goods and services                                                    na                  na               na              na                 na            -19.2         -4.2          -14.9
   Imports of goods and services                                                    na                  na               na              na                 na             12.0         -4.3          -14.2
Industrial gross output                                                             3.3                 3.2              4.8          -14.9                 4.0           -27.9         21.4           30.7
Agricultural gross output                                                           na                  na              -4.2            -8.5                8.0           -17.6          4.5          -45.2
Employment                                                                                                                 (Percentage change)
Labour force (end-year)                                                             na                  na               3.4             3.6                3.1             2.5          9.2           -0.1
Employment (end-year)                                                               3.3                 3.4              1.9             0.1                4.4             1.4          5.0            1.8

Unemployment2                                                                       na                17.1              18.3            21.0              20.0             20.9         23.9          22.5
Prices and wages                                                                                                           (Percentage change)
Consumer prices (annual average)                                                    2.1                4.6             103.0           493.0            3,102.0         1,748.0     1,005.3          992.4
Consumer prices (end-year)                                                          na                 na              155.0           644.0            9,750.0         1,327.9     1,261.5          445.8
Producer prices (annual average)                                                    na                 na                na               na                na              na          na             na
Producer prices (end-year)                                                          na                 na                na               na                na              na          na             na
Gross average monthly earnings in economy (annual average)                          na                10.3              92.9           664.5              -96.3           587.7       639.8          757.1
Government sector3                                                                                                         (In per cent of GDP)
General government balance                                                          0.0                1.7               3.0               -9.4           -3.5              1.7          0.4           0.3
General government expenditure                                                      na                42.7              35.6              30.3            16.6             19.3         20.1          16.3
General government debt                                                             na                 na                na                 na             na               na           na            na
Monetary sector                                                                                                           (Percentage change)
Broad money (M3, end-year)                                                          na                  na               na              na                 na            983.9       448.0           411.7
Domestic credit (end-year)                                                          na                  na               na              na                 na            915.0       402.8         1,389.3

Broad money (M3, end-year)                                                          na                  na               na               na              18.9             25.6         18.8            8.1
Interest and exchange rates                                                                                         (In per cent per annum, end-year)
Refinance rate                                                                      na                  na               na               na               na              50.0         15.0         105.0
Interbank market rate                                                               na                  na               na               na               na               na          55.0         121.4
Deposit rate (6-12 months)4                                                         na                  na               na               na              50.0            206.0         80.0         130.0
Lending rate (6-12 months)4                                                         na                  na               na               na             108.0            300.0         70.0         200.0

Exchange rate (end-year)5                                                           na                  na               na              na                30.0            75.0       787.0         4,392.8
Exchange rate (annual average)6                                                     6.2                 5.9             33.7           226.2            1,018.0            41.7       207.7         3,499.8
External sector

Current account                                                                     na                 na             447.4            926.9              775.2            84.2        23.1             2.2
Trade balance                                                                       na              -249.0            589.5          1,139.9            1,100.0           485.1       440.8           303.7
   Merchandise exports                                                              na               151.0          1,237.7          2,148.9            2,692.7         2,175.8     2,084.4         1,692.0
   Merchandise imports                                                              na               400.0            648.2          1,009.0            1,592.7         1,690.7     1,643.6         1,388.3
Foreign direct investment, net                                                      na                 na               na               na                79.0           103.0       233.0           108.1
Gross reserves, excluding gold (end-year) 7                                         na                 na               na               na               818.0           927.0     1,165.0         1,172.0
External debt stock                                                                 0.0                0.0              0.0              0.0              168.0           418.0       550.0           668.0
                                                                                                                                                                                                              (In
Gross reserves, excluding gold (end-year)                                           na                  na               na               na                4.5             4.5          5.8            7.0
                                                                                                                                                                                                              (In p
Debt service8                                                                       na                  na               na               na                na              1.7         11.7          13.6
Memorandum items                                                                                                       (Denominations as indicated)
Population (end-year, million)                                                      3.6                3.7               3.8              3.8               3.9             4.0         4.6             4.7
GDP (in billions of manats)9                                                        6.7                7.3              17.0           306.0               10.9            87.2       652.0         7,751.8
GDP per capita (in US dollars)                                                    298.3              340.4             134.6           351.8                0.0           517.0       683.9           470.3
Share of industry in GDP (in per cent)                                             23.0               16.0              20.0            59.0               49.0            39.6        56.0            57.4
Share of agriculture in GDP (in per cent)                                          43.0               48.0              46.0            19.0               19.2            33.8        17.2            13.3
Current account/GDP (in per cent)                                                   na                 na                na               na                na              4.0         0.7             0.1
External debt - reserves (in US$ million)                                           na                 na                na               na             -650.0          -509.0      -615.0          -504.0
External debt/GDP (in per cent)                                                     na                 na                na               na                na             20.0        17.5            30.2
External debt/exports of goods and services (in per cent)                           na                 na                na               na                5.8            16.9        22.9            33.5


1                                                                                         6
    Official statistics until 2004, but EBRD estimates thereafter.                            Before 1993, the series refers to the Russian Roubles.
2                                                                                         7
    Officially registered unemployed.                                                         Includes foreign exchange reserves of the central bank plus the foreign
3
    Significant off-budget expenditures occur through extra-budgetary funds and               exchange reserve fund.
                                                                                          8
    lending.                                                                                  Excludes rescheduled amounts.
4                                                                                         9
    Unweighted average deposit and lending rates for individuals                              Russian Roubles before 1993.
    (in local currency) of state commercial banks.
5
    Before May 2008 Turkmenistan operated a dual exchange rate system.
    The series refers to a weighted average between the official exchange rate
    and the commercial rate (given as the black market rate). Weights are
    variable depending on official and shuttle trade.
1997              1998              1999              2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



         -11.3                6.7              16.5              18.6              20.4              15.8              17.1              14.7              13.0              11.4              11.6              10.5               6.1
           na                 na                na                na                na                na                na                na                na                na                na                na                na
           na                 na                na                na                na                na                na                na                na                na                na                na                na
           na                 na                na                na                na                na                na                na                na                na                na                na                na
         -41.1              -18.6              61.7              92.6               4.8              13.0               4.0              11.2              28.3              44.7              27.4              29.3             -24.1
          -6.4                9.9              10.9              14.9              20.1              -3.7              40.8              22.1              -6.4             -13.2              47.8              41.9              50.5
         -33.0               25.8              13.0              21.0              16.8              12.8              13.5              16.4               8.5               na                na                na                na
         123.7                8.7              35.0              17.0              23.0               9.5               9.5              13.0               4.0               na                na                na                na


            0.2               5.5               5.8              3.1                3.2               3.2               3.0               3.0               na                na                na                na                na
            2.0               1.3               0.7              3.0                2.0               2.5               2.2               na                na                na                na                na                na
                                  (In per cent of labour force)
           21.0              24.2              27.9             27.9               28.8              29.3              29.8              30.2               na                na                na                na                na


          83.7               16.8              24.2               8.3              11.6               8.8               5.6               5.9              10.7               8.2               6.3              14.5              -2.7
          21.5               19.8              21.2               7.4              11.7               7.8               3.1               9.0              10.4               7.1               8.6               8.9               0.2
           na                 na                na                na                na                na                na                na                na                na                na                na                na
           na                 na                na                na                na                na                na                na                na                na                na                na                na
         220.0               46.1              22.1              80.4              47.1               8.2              84.2               5.7              21.6               na                na                na                na


           -0.2              -2.6               0.0              -0.3               0.6               0.2              -1.3               1.4               0.8               5.3               3.9              11.3               7.8
           25.0              24.6              19.4              23.9              21.1              18.1              19.4              18.9              19.1              15.0              13.3              10.9              15.9
            na                na                na                na                na                na                na                na                na                na                na                na                na


           81.2              84.4             21.8               94.6              16.7               1.5              33.4              13.6               5.6              10.7              96.4             -7.6               40.1
           88.4              74.6             26.9               24.4               7.7              -2.9              -0.6               3.6              -3.5              -6.7              31.0            144.2               25.7
                                     (In per cent of GDP)
           10.2              15.0             12.7               19.4              16.1              13.0              13.2              12.3              10.2               9.4              15.0               7.7              10.1


           35.0              30.0          27.0             20.0                   12.0              12.0              10.0               5.0               na                na                na                na                na
           45.2              30.0          27.0             15.0                    7.7               7.0               6.9               4.6               na                na                na                na                na
           41.1              24.2          28.6             22.8                   16.9              17.8              15.4              11.3               na                na                na                na                na
           52.6              58.6          38.7             27.9                   26.7              21.9              20.4              17.3               na                na                na                na                na
                                  (Manats per US dollar)
        4,520.5           6,376.9      8,200.0           9,790.0               10,060.0          10,150.0          10,390.0          10,540.0          10,870.0          10,690.0          10,690.0          14,250.0               2.9
        4,534.3           5,130.1      8,169.4           8,478.6                9,827.9          10,097.5          10,033.5          10,375.0          11,015.2          10,881.9          10,690.0          13,041.5               2.9


                                   (In millions of US dollars)
         -607.8             -934.4           -571.0            411.2              116.0             583.0             305.0              82.2             874.9           3,351.2           4,037.0           3,560.0           5,300.0
         -259.3             -523.0           -210.0            766.0              515.0           1,030.0             886.0             705.5           1,997.1           4,597.8           5,334.0           6,423.0           7,900.0
          743.2              614.0          1,164.0          2,508.0            2,623.0           2,862.0           3,465.0           3,853.9           4,944.1           7,155.5           9,114.0          11,786.0          14,500.0
        1,002.5            1,137.0          1,374.0          1,742.0            2,108.0           1,832.0           2,579.0           3,148.4           2,947.0           2,557.7           3,780.0           5,363.0           6,600.0
          107.9               62.3            125.0            131.0              170.0             276.0             226.0             353.7             418.2             730.9             856.4           1,276.9           3,866.7
        1,285.0            1,379.0          1,555.0          1,808.0            2,055.0           2,346.0           2,673.0           2,714.0           3,442.0           8,059.0          13,222.0          16,713.0          18,960.0
        1,355.5            1,842.0          2,026.0          2,184.0            1,865.0           1,660.0           1,519.0           1,273.0           1,007.0             805.0               0.0               0.0               0.0
                         (In months of imports of goods and services)
            9.2                9.0               9.1             9.2                9.1              11.8               9.5               8.0              10.7              26.9              32.4              25.8              24.6
                         (In per cent of exports of goods and services)
           28.1               35.3             28.5             14.2               17.3              14.3              11.6               9.6               6.3               4.1               3.2               1.3               0.4


            4.9               5.0               5.2               5.4               5.6               5.8               6.2               6.5               6.5            6.5               6.5               6.5                  6.5
       11,108.8          13,994.7          20,056.0          25,648.0          36,051.6          45,240.0          59,404.8          72,706.4          91,863.2      110,727.1         136,244.0         247,152.0                 52.7
          505.1             546.7             472.1             563.4             650.4             774.5             954.9           1,078.1           1,283.0        1,565.4           1,960.8           2,915.6              2,842.6
           35.1              29.0              33.6              45.8              39.8              40.9              39.7              38.6               na             na                 na               na                   na
           21.4              26.5              27.8              24.5              23.0              21.8              19.6              18.4               na             na                 na               na                   na
          -24.8             -34.3             -23.3              13.6               3.2              13.0               5.2               0.6               5.1           15.7              15.5              18.7                -16.1
           70.5             463.0             471.0             376.0            -190.0            -686.0          -1,154.0          -1,441.0          -2,435.0       -7,254.0               0.0               0.0                  na
           55.3              67.5              82.5              72.2              50.8              37.1              25.7              18.2              12.1            7.9               2.4               3.2                  2.7
          133.5             216.5             147.2              78.7              64.8              53.9              40.8              30.2              19.1           10.7                na               na                   na
2010



         11.0
          na
          na
          na
          na
          na
          na
          na


           na
           na

           na


           5.0
           4.6
           na
           na
           na


           2.8
           na
           na


           na
           na

           na


           na
           na
           na
           na

           na
           na



           na
           na
           na
           na
       2,082.7
           na
           na

           na

           na


          na
         56.6
          na
          na
          na
         -4.7
          na
          na
          na
Ukraine
                                                                                    1989                1990             1991              1992              1993             1994         1995 1996
                                                                                                                                                                           Estimate   Projection

Output and expenditure                                                                                               (Percentage change in real terms)
GDP                                                                                  4.0                -4.0           -10.6             -9.7               -14.2            -22.9        -12.2           -10.0
   Private consumption                                                               na                  na               na              na                  na               na           5.1            -9.5
   Public consumption                                                                na                  na               na              na                  na               na          -0.3            -5.4
   Gross fixed capital formation                                                     na                  na               na              na                  na               na         -11.3           -25.7
   Exports of goods and services                                                     na                  na               na              na                  na               na         -16.9            16.9
   Imports of goods and services                                                     na                  na               na              na                  na               na          20.0            15.8
Industrial gross output                                                              3.0                -0.1             -4.8            -6.4                -8.0            -27.3        -12.0            -5.1
Agricultural gross output                                                            na                 -4.0           -13.2             -8.3                 1.5            -16.5         -3.6            -9.5
Employment                                                                                                                  (Percentage change)
Labour force (end-year)                                                              na                  na               1.3             -1.0               -0.3               0.1         2.4            -0.7
Employment (end-year)                                                                na                  na              -1.7             -2.0               -2.3              -3.8         3.0            -2.1

Unemployment (end-year)1                                                             na                  0.0              0.0               0.2               0.3              0.3          0.3             1.3
Prices and wages                                                                                                           (Percentage change)
Consumer prices (annual average)                                                     2.2                 4.2            91.0         1,210.0              4,734.0            891.0       377.0             80.0
Consumer prices (end-year)                                                           na                  na            161.0         2,730.0             10,155.0            401.0       181.7             39.7
Producer prices (annual average)                                                     na                  4.5           125.0         2,384.0              4,619.0          1,144.0       488.0             52.0
Producer prices (end-year)                                                           1.7                 4.5           163.0         3,828.0              8,668.0            774.0       172.0             17.3
Gross average monthly earnings in economy (annual average)                           na                  na              na          1,220.0              2,254.5            786.1       483.9           -100.0
Government sector2                                                                                                          (In per cent of GDP)
General government balance                                                           na                  na                na             -24.0             -16.2             -8.7         -4.7            -3.2
General government expenditure                                                       na                  na                na              58.0              54.5             50.6         42.5            39.9
General government debt                                                              na                  na                na                na               na               na          21.8            24.2
Monetary sector                                                                                                             (Percentage change)
Broad money (M2, end-year)                                                           na                  na                na           941.7             1,828.0            567.2       112.9             31.8
Domestic credit (end-year)                                                           na                  na                na              na               981.0            539.9       191.2             42.3

Broad money (M2, end-year)                                                           na                  na               0.0              50.0              32.5             26.7         12.6            11.1
Interest and exchange rates                                                                                          (In per cent per annum, end-year)
Discount rate                                                                        na                  na               na              80.0             240.0             252.0       110.0             40.0
Deposit rate3                                                                        na                  na               na              82.0             160.0             209.0        70.0             33.6
Lending rate3                                                                        na                  na               na              77.0             184.0             250.0       123.0             79.9

Exchange rate (end-year)4                                                            na                  na                na               0.0               0.1              1.0          1.8             1.9
Exchange rate (annual average)4                                                      na                  na                na               0.0               0.0              0.3          1.5             1.8
External sector

Current account                                                                      na                  na               na               na                 na       -1,163.0       -1,152.0         -1,184.0
Trade balance                                                                        0.0                 0.0              0.0           -600.0           -2,500.0      -2,575.0       -2,702.0         -4,296.0
   Merchandise exports                                                               0.0                 0.0              0.0         11,300.0           12,800.0      13,894.0       14,244.0         15,547.0
   Merchandise imports                                                               0.0                 0.0              0.0         11,900.0           15,300.0      16,469.0       16,946.0         19,843.0
Foreign direct investment, net                                                       na                  na               na             200.0              458.0         151.0          257.0            516.0
Gross reserves, excluding gold (end-year)                                            na                  na               na             468.8              161.6         650.7        1,051.0          1,960.0
External debt stock5                                                                 na                  na               na           3,144.9            4,213.0       5,164.0        8,091.0          9,089.0
                                                                                                                                                                                                                  (In
Gross reserves, excluding gold (end-year)                                            na                  na                na               na                na               0.4          0.7             1.1
                                                                                                                                                                                                                  (In p
Debt service6                                                                        na                  na                na               na                na              11.2          0.0             0.0
Memorandum items                                                                                                       (Denominations as indicated)
Population (end-year, million)                                                      51.7               51.8             51.9            52.1                 52.2             51.9        51.5             51.1
GDP (in billions of hryvnias)                                                      154.0              165.0            295.0              0.1                 1.5             12.0        54.5             81.5
GDP per capita (in US dollars)                                                       0.0                0.0              0.0           480.3                626.3            708.2       718.6            872.0
Share of industry in GDP (in per cent)                                               na                34.7             45.8            44.6                 27.6             30.0        34.4              na
Share of agriculture in GDP (in per cent)                                           28.0               24.4             24.4            20.3                 21.6             16.0        14.5             12.2
Current account/GDP (in per cent)                                                    na                 na               na               na                  na              -3.2        -3.1             -2.7
External debt - reserves (in US$ million) 5                                          na                 na               na          2,676.1              4,051.4          4,513.3     7,040.0          7,129.0
External debt/GDP (in per cent)5                                                     na                 na               na             12.6                 12.9             14.0        21.9             20.4
External debt/exports of goods and services (in per cent) 5                          na                 na               na               na                  na              31.0        47.3             44.7


1                                                                                          4
    According to ILO methodology.                                                              On 2 September 1996 the hryvna was introduced to replace the temporary cur-
2
    IMF definition. General government includes the state, municipalities and                  rency, the karbovanets, at a rate of 1:100,000. All data are expressed in
    extra-budgetary funds, and in 2009 Naftogaz and bank recapitalisation costs.               terms of post-2 September 1996 hryvna.
3                                                                                          5
    Weighted average over all maturities.                                                      Until end-2002, medium and long-term external debt only. From 2003 onwards,
                                                                                               the series also includes short-term external debt.
                                                                                           6
                                                                                               Refers to payments on official debt only.
1997              1998              1999              2000              2001              2002              2003              2004              2005              2006              2007              2008              2009



           -3.0              -1.9              -0.2               5.9               9.2               5.2               9.6              12.1               2.7               7.3               7.9               2.1             -15.1
           -1.6               1.3              -2.2               2.3               9.0               9.5              11.5              13.1              16.6              15.9              17.1              11.8               na
           -2.3              -3.5              -7.9               1.0              10.4              -6.7               6.9               1.8               2.7               2.7               2.8               0.4               na
            2.1               2.6               0.1              12.4               6.2               3.4              22.5              20.5               3.9              21.2              24.8               1.6               na
           -5.4               1.2              -2.2              21.5               3.5               7.4              10.3              21.3             -12.2              -5.6               3.2               5.2               na
           -4.6               2.0             -16.7              23.8               6.0               3.3              16.4              15.5               6.4               6.8              19.9              17.1               na
           -3.0              -1.0               4.0              13.2              14.2               7.0              15.8              12.5               3.1               6.2              10.2              -3.1               na
           -1.8              -9.6              -6.9               9.8              10.2               1.2              -9.9              19.1               0.4               2.5              -6.5              17.1               na


           -0.5             -13.0             -12.3              0.4               -1.8              -0.9              -0.3               0.1               0.4              -0.2               0.3               0.3              -1.1
           -2.7              -3.4              -2.5             -5.1               -1.0               0.6               0.4               0.7               1.9               0.2               0.8               0.3              -3.7
                                  (In per cent of labour force)
            2.3               3.7               4.3             11.6               10.9               9.6               9.1               8.6               7.2               6.8               6.4               6.4               8.1


           15.9              10.6              22.7              28.2              12.0               0.8               5.2               9.0              13.5               9.1              12.8              25.2              15.9
           10.1              20.0              19.2              25.8               6.1              -0.6               8.2              12.3              10.3              11.6              16.6              22.3              12.3
            7.7              13.2              31.1              20.8               8.7               3.0               7.6              20.4              16.7               9.6              19.5              35.5               6.5
            5.0              35.4              15.7              20.6               0.9               5.7              11.1              24.1               9.5              14.1              23.3              23.0              14.3
           13.3              -2.0              16.3              29.2              35.2              20.9              22.9              27.9              36.4              29.7              29.3              33.7               5.5


           -5.4              -2.5              -2.3              -1.1              -0.9               0.1              -0.7              -4.4              -2.3              -1.3              -2.0              -3.2             -11.4
           44.2              38.0              34.1              34.5              34.4              35.6              37.2              41.5              44.1              45.1              43.8              47.3              49.3
           30.1              37.6              51.0              45.9              36.9              33.5              29.3              25.5              18.7              15.7              10.9              19.0              31.3


           38.0              24.0             40.7               45.3              43.2              42.3              46.9              32.8              53.9              34.3              50.8              31.0              -5.4
           32.5              58.0             30.5               23.1              21.9              28.0              38.4              24.8              34.3              69.4              77.0              76.9               3.9
                                     (In per cent of GDP)
           13.3              15.0             16.6               18.5              22.1              28.5              35.3              36.4              43.8              47.7              54.3              54.0              53.0


           35.0              60.0           45.0                 27.0              12.5               7.0               7.0               9.0               9.5               8.5               8.0              12.0              10.3
           18.2              22.3           20.7                 13.7              11.0               7.9               7.0               7.8               8.5               7.6               8.2               9.9              13.8
           49.1              54.5           55.0                 41.5              32.3              25.4              17.9              17.4              16.0              15.1              13.9              17.6              20.9
                                  (Hryvnias per US dollar)
            1.9               3.4            5.2                  5.4               5.3               5.3               5.3               5.3               5.1               5.1               5.1               8.1               8.1
            1.9               2.4            4.1                  5.4               5.4               5.3               5.3               5.3               5.1               5.1               5.1               5.3               8.1


                                   (In millions of US dollars)
       -1,335.0           -1,296.0          1,658.0          1,481.0            1,402.0           3,173.0           2,891.0           6,804.0           2,531.0          -1,617.0       -5,918.0         -12,763.0          -1,861.0
       -4,205.0           -2,584.0            244.0            779.0              198.0             710.0            -269.0           3,741.0          -1,135.0          -5,194.0      -10,572.0         -16,091.0          -5,346.0
       15,418.0          13,699.0          13,189.0         15,722.0           17,091.0          18,669.0          23,739.0          33,432.0          35,024.0          38,949.0       49,840.0          67,717.0          40,394.0
       19,623.0          16,283.0          12,945.0         14,943.0           16,893.0          17,959.0          24,008.0          29,691.0          36,159.0          44,143.0       60,412.0          83,808.0          45,740.0
          581.0              747.0            489.0            594.0              769.0             698.0           1,411.0           1,711.0           7,533.0           5,737.0        9,218.0           9,903.0           4,536.0
        2,341.0              761.0          1,046.0          1,353.0            2,955.0           4,241.0           6,731.0           9,302.0          19,413.0          22,300.0       31,972.0          31,543.0          26,505.0
       10,254.0          11,973.0          13,532.0         11,819.0           12,098.0          12,771.0          23,811.0          30,647.0          39,619.0          54,512.0       79,955.0         101,659.0         103,973.0
                         (In months of imports of goods and services)
            1.3                0.5               0.8             0.9                1.7               2.4               2.9               3.2               5.3               5.0               5.3               3.8               5.6
                         (In per cent of exports of goods and services)
            7.5               11.2             15.9             10.4                8.7               5.7               6.2               4.6               4.9               5.1               4.0               2.7               5.8


           50.6              50.2              49.9              48.7              48.2              47.8              47.4              47.1              46.7              46.5              46.1              45.8              45.5
           93.4             102.6             130.4             170.1             204.2             225.8             267.3             345.1             441.5             544.2             720.7             949.9             914.7
          991.1             834.3             632.9             642.3             788.8             886.4           1,057.3           1,376.4           1,843.7           2,317.1           3,094.6           3,930.8           2,492.5
           29.7              25.2              27.2              26.7              27.1              27.4              27.2              25.8              27.2              27.6              27.5              27.3               na
           12.4              11.9              11.7              14.4              14.4              13.0              10.9              10.8               9.2               7.5               6.6               6.8               na
           -2.7              -3.1               5.2               4.7               3.7               7.5               5.8              10.5               2.9              -1.5              -4.1              -7.1              -1.6
        7,913.0          11,212.0          12,486.0          10,466.0           9,143.0           8,530.0          17,080.0          21,345.0          20,206.0          32,212.0          47,983.0          70,116.0          77,468.0
           20.4              28.6              42.8              37.8              31.8              30.1              47.5              47.3              46.0              50.6              56.0              56.4              91.7
           50.4              67.9              79.3              60.5              57.4              54.7              82.2              77.2              89.3             108.5             124.9             118.7             191.6
2010



            4.0
            na
            na
            na
            na
            na
            na
            na


            na
            na

            na


           10.8
           17.6
            na
            na
            na


           -5.4
            na
            na


            na
            na

            na


            na
            na
            na

            na
            na



       -1,200.0
       -6,000.0
       46,000.0
       52,000.0
        5,000.0
            na
            na

            na

            na


            na
        1,054.3
            na
            na
            na
           -0.9
            na
            na
            na
Uzbekistan
                                                              1989                1990             1991             1992              1993         1994         1995 1996
                                                                                                                                                Estimate   Projection

Output and expenditure                                                                         (Percentage change in real terms)
GDP 1                                                          3.7                 1.6             -0.5          -11.1                -2.3          -4.2        -0.9            1.6
Industrial gross output                                        3.6                 1.8              1.5            -6.2                4.1           1.0         0.2            6.3
Agricultural gross output                                      na                  na              -1.1            -6.4                1.3           2.2         2.3           -6.5
Employment                                                                                            (Percentage change)
Labour force (end-year)                                        na                  na               na               na                na           1.4          0.9            1.3
Employment (end-year)                                          4.3                 4.2              4.8             0.2               -0.1          1.5          0.8            1.3

Unemployment (end-year)2                                       0.0                 na               na                na               0.3          0.3          0.3            0.3
Prices and wages                                                                                     (Percentage change)
                                 3
Consumer prices (annual average)                               0.7                4.0            109.7           645.1               534.2      1,568.3       304.6           54.0
Consumer prices (end-year)                                     na                 na             169.0           750.7               884.8      1,281.4       116.9           64.4
Producer prices (annual average)                               na                 7.0            147.0         3,275.0             2,545.0      1,428.0       499.0          107.0
Producer prices (end-year)                                     na                 na               na               na             1,919.0      1,425.0       217.4           75.4
Gross average monthly earnings in economy (annual average)     na                10.8             68.4            -99.4            1,204.3        833.3       282.1          102.4
Government sector4                                                                                    (In per cent of GDP)
General government balance                                    -0.9                -1.1             -3.6          1,757.2             -14.9         -5.6         -3.8          -7.9
General government expenditure                                 0.0                 0.0              0.1              29.8             49.4         34.0         38.5          49.8
General government debt                                        na                  na               na                 na              na          10.7          8.6           8.8
Monetary sector                                                                                      (Percentage change)
Broad money (M3, end-year)                                     na                19.5            131.0           321.9              784.7         680.3       144.3          113.3
Domestic credit (end-year)                                     na                 na               na               na              854.4         525.3        80.0          188.8

Broad money (M3, end-year)                                     0.1                 0.1              0.1             73.5             56.4          34.7         18.2          21.0
Interest and exchange rates                                                                    (In per cent per annum, end-year)
Refinancing rate                                               na                  na               na               na               na            na         84.0           60.0
Treasury bill rate (3-month maturity)                          na                  na               na               na               na            na          na             na
Deposit rate (1 year)                                          na                  na               7.0             10.0             30.0          60.0        90.0           28.0
Lending rate (1 year)                                          na                  na               na               na               na          100.0       105.0           49.7

Exchange rate (end-year)5                                      na                  na               2.0            415.0               1.3         28.0         39.3          65.7
Exchange rate (annual average)5                                6.2                 5.9             33.7            226.2               1.0         11.4         33.0          44.7
External sector

Current account                                                na                  na          5,269.0            -237.0            -439.0        118.0       -20.0          -980.0
Trade balance                                                  na                  na          4,534.3            -235.0            -378.0        213.0       238.0          -706.0
   Merchandise exports                                         na                  na         13,754.1           1,424.0           2,877.0      2,940.0     3,475.0         3,534.0
   Merchandise imports                                         na                  na          9,219.8           1,659.0           3,255.0      2,727.0     3,237.0         4,240.0
Foreign direct investment, net                                 na                  na              na                9.0              18.0         73.0       -24.0            90.0
Gross reserves, excluding gold (end-year)                      na                  na              na              529.0           1,021.0      1,330.0     1,867.0         1,901.0
External debt stock                                            na                  na              na               65.0             950.0      1,107.0     1,806.0         2,294.5
                                                                                                                                                                                      (In
Gross reserves, excluding gold (end-year)                      na                  na               na               3.8               3.8          5.7          6.7            4.8
                                                                                                                                                                                      (In p
Debt service                                                   na                  na               na               2.2               6.3         10.4         16.8            8.5
Memorandum items                                                                                  (Denominations as indicated)
Population (end-year, million)                                21.1               21.2              21.3            21.4              21.9          22.3        22.7           23.1
GDP (in billions of sums)                                     30.7               32.4              61.5              0.4              5.1          64.9       302.8          559.1
GDP per capita (in US dollars)6                              233.4              260.6              85.6              0.1            234.0         255.4       404.4          541.0
Share of industry in GDP (in per cent)                        22.1               22.7              26.3            26.6              22.3          17.0        17.1           17.8
Share of agriculture in GDP (in per cent)                     31.1               33.4              37.3            35.4              27.8          34.5        28.1           22.4
Current account/GDP (in per cent)                              na                 na                na        -12,075.1              -8.6           2.1        -0.2           -7.8
External debt - reserves (in US$ million)                      na                 na                na           -464.0             -71.0        -223.0       -61.0          393.5
External debt/GDP (in per cent)                                na                 na                na          3,311.7              18.6          19.5        19.7           18.3
External debt/exports of goods and services (in per cent)      na                 na                na               4.5             31.6          35.3        48.0           58.1


1                                                                    4
    EBRD estimate. Official figures differ.                              Includes consolidated government and the Fund for Reconstruction and
2
    Officially registered unemployed.                                    Development.
3                                                                    5
    Unofficial estimates; official figures are lower.                    Dual exchange rates were in operation until October 2003. Data show
                                                                         a weighted average of the official, bank and parallel market rates.
                                                                     6
                                                                         Calculated at the weighted exchange rate for periods in which dual
                                                                         exchange rates were in effect.
1997             1998              1999             2000             2001             2002             2003             2004              2005              2006              2007              2008              2009



           2.5               4.3              4.3              3.8              4.1              4.0              4.2               7.7               7.0               7.3               9.5               9.0               8.1
           6.5               5.8              1.2              5.9              7.6              8.3              6.0               9.4               7.2              10.8              12.1              12.7               na
           5.8               4.0              5.9              3.1              4.2              6.0              7.3               8.9               5.4               6.2               6.1               4.5               na


           1.4               1.5               1.0             1.1              1.7              2.2              2.6               3.5               2.8               2.6               2.5               2.7               na
           1.4               1.4               1.0             1.1              1.7              2.2              2.7               3.4               2.9               2.7               2.6               2.8               na
                                 (In per cent of labour force)
           0.3               0.4               0.4             0.4              0.4              0.4              0.3               0.4               0.3               0.3               0.3               0.2               0.4


         70.9               29.0             29.1             25.0            27.3             27.3             11.6                6.6              10.0              14.2              12.3              12.7              14.1
         50.2               26.1             26.0             28.2            26.5             21.6              7.8                9.1              12.3              11.4              11.9              14.4              10.6
         52.0               48.4             38.0             61.1            42.2              na               na                 na                na                na                na                na                na
         40.3               48.4             34.5             70.2            43.9             46.1             27.4               26.5              28.2              24.0              10.9               7.7               na
         65.7               49.0             33.4             47.4            58.2            111.8             14.0               32.4              54.9              38.2              56.3              39.1               na


         -2.2               -3.8             -3.0             -2.5            -1.3             -1.9              0.1                1.2               2.8               5.2               5.3              10.7               3.2
         39.5               44.0             41.6             38.9            35.8             37.6             33.4               31.6              29.5              29.2              32.7              32.7              32.7
          7.8               29.2             29.4             42.1            59.4             54.6             41.6               35.1              28.2              21.3              15.8              13.1              11.2


         36.0               37.1             26.4             43.3            54.3             29.7             27.1               47.9              55.5              37.8              46.9              35.6              27.0
         51.2               79.5             34.5             88.8            90.8             40.9             -0.6                2.1               3.1             -40.3             -64.2            -137.2               5.0
                                    (In per cent of GDP)
         16.3               15.4             13.0             12.2            12.4             10.6             10.3               12.2              14.6              15.4              16.7              17.3              18.2


         48.0               48.0           42.6               26.8            26.8             34.5             20.0               20.0              16.0              14.0              14.0              14.0               na
         27.5               20.4           16.5               17.1            17.1             17.1              na                 na                na                na                na                na                na
         14.8               13.1           13.5               18.8            21.2             26.0             20.3               16.1              15.5              15.0              19.4               na                na
         28.0               33.1           32.7               27.6            27.6             33.4             23.9               21.2              19.9              21.0              24.3               na                na
                                    (Sums per US dollar)
        108.5              178.7          348.4             631.3            937.6           1,068.3           979.0            1,056.6           1,180.0           1,240.0           1,290.0           1,388.5           1,511.4
         90.7              131.8          257.2             360.7            646.3             885.0           995.5              999.2           1,072.3           1,219.8           1,263.7           1,320.2           1,466.6


                                  (In millions of US dollars)
        -584.0             -102.0           -163.0            245.1          -113.3            117.2            587.0             859.6           1,097.0           1,551.9           1,630.7           3,561.7           2,198.2
         -72.3              110.5            202.8            494.2           185.3            323.8            807.6           1,241.7           1,289.0           1,369.8           1,893.5           3,080.5           2,484.3
       3,695.0            3,048.5          2,790.0          2,934.7         2,739.7          2,510.2          3,213.3           4,302.1           4,594.3           5,377.1           7,691.5          11,129.9          10,528.7
       3,767.3            2,938.0          2,587.2          2,440.5         2,554.4          2,186.4          2,405.7           3,060.4           3,305.3           4,007.3           5,798.0           8,049.4           8,044.4
         166.8              139.6            121.2             74.7            82.8             65.3             82.6             176.6             191.6             173.8             705.2             711.3             711.3
       1,167.0            1,168.0          1,242.0          1,360.0         1,299.0          1,302.0          1,659.0           2,320.3           2,992.6           3,778.4           5,193.8           9,072.2          11,152.7
       2,249.5            3,327.7          4,173.0          4,391.8         4,456.9          4,260.3          4,248.7           4,301.6           4,131.8           3,768.8           3,725.3           3,747.6           3,996.3
                        (In months of imports of goods and services)
           3.2                4.1               4.7             5.5             4.9              5.5              6.0               6.7               7.9               8.5               7.6              10.0              12.2
                        (In per cent of exports of goods and services)
         13.5                11.1             16.9             22.4           23.0             23.2             19.9               16.5              13.8              11.1               8.0               5.9               6.6


          23.6              24.0             24.3             24.7             25.0             25.3             25.6              25.9              26.2              27.0              27.4              27.7              28.3
         976.8           1,416.2          2,128.7          3,255.6          4,925.0          7,450.0          9,837.8          12,261.0          15,923.4          20,759.3          28,186.2          36,839.4          44,351.7
         457.1             448.6            340.5            366.2            305.3            333.1            386.5             474.4             567.5             630.8             814.8           1,007.4           1,070.3
          15.6              14.9             14.3             14.2             14.1             14.5             15.8              17.5              20.7              22.1              25.0              25.8               na
          28.3              26.8             29.0             30.1             30.0             30.1             28.6              26.4              25.0              24.1              21.7              20.8               na
          -5.4              -0.9             -2.0              2.7             -1.5              1.4              5.9               7.2               7.7               9.1               7.3               8.7               2.7
       1,082.5           2,159.7          2,931.0          3,031.8          3,157.9          2,958.3          2,589.7           1,981.2           1,139.2              -9.5          -1,468.5          -5,324.6          -7,156.5
          20.9              31.0             50.4             48.7             58.5             44.1             43.7              37.3              31.3              22.1              16.7              13.1              15.3
          56.4              98.7            134.7            129.8            139.2            142.7            109.6              85.8              76.4              59.6              42.1              29.9              33.6
2010



            8.2
            na
            na


            na
            na

            na


           10.0
           13.0
            na
            na
            na


            2.2
            na
            na


            na
            na

            na


            na
            na
            na
            na

            na
            na



        2,297.4
        2,768.9
       11,525.8
        8,756.9
          822.2
            na
            na

            na

            na


            na
       51,945.7
            na
            na
            na
            3.8
            na
            na
            na

								
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