The recovery is expected to advance at a moderate pace, but large uncertainty and downside risks cloud the outlook. GDP growth is projected to reach 3.2 percent in 2017 and 3.3 percent in 2018, with inflation at the low end of the tolerance band (2.5±1.5 percent). Headwinds arise from further weakness and volatility in the external environment, as well as from domestic political uncertainty and structural bottlenecks.
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