… Let me briefly touch these fields, which range from microeconomic reforms over macroeconomic policies to integration policies. Firstly, structural reforms are the key to long-term success. Existing productive capacities have to be reshaped, and new ones have to be built, above all in the service sector.
In particular, financial services, which were practically non-existent when transition started a decade ago, have to be strengthened further. Developing structures and institutions of financial intermediation is the prerequisite for ensuring the high level of productive real investment necessary for high real GDP growth.