One important objective of the reform program was to rebuild the state owned institutions through legislative changes so as to avoid political influences, and to privatise the public enterprises that continue to operate inefficiently. Substantial progress has been made under the reform program to strengthen transparency, accountability and independence in these institutions.
As for the outlook, the CPI inflation rate – on the basis of figures excluding the direct effects of the consumption tax hike – is likely to be around 1¼ percent until around this summer, as the underlying upward pressure on prices is likely to strengthen while the positive contribution stemming from the rise in energy prices will decline.