The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
After two years of recession, the economy is recovering due to higher oil prices and improved sentiment, amid tight fiscal and monetary policies. Medium-term prospects are nonetheless subdued given the expected stability of oil prices over the forecasting period and a structurally weak economy. Structural reforms over the past year consisted of a high profile partial privatization and other small measures.