Third, we must improve the regulatory framework, which may involve reversing some of the deregulation that occurred in the 1990s. Specifically, adopting a version of the proposed Volcker rule would be healthy for long-term stability.
On the external sector front, both exports and imports dropped by 17.8 percent and 0.1 percent respectively, leading to a small expansion in trade deficit by 2 percent to USD 6.61 billion in FY 2015/16.