It is worth to highlight the broad-ranging scope of such efforts, as they comprise not only several key sectors of the economy, but also measures aimed at improving the institutional framework. Even though the full impact of these structural changes on potential GDP will take time to materialize, some effects are readily visible in a number of areas.
These include, among others, a more flexible labor market; increased competition in several sectors of the economy; a fall in the prices of some widely used key inputs; higher private investment in areas such as telecommunications, gas and electricity generation; widespread participation of private firms in oil field auctions; and a more important role of the financial system, through both private and public intermediaries, in supporting economic growth.