The most important issues here are regulatory framework and overall investment climate, which are being addressed by the Government. Second, the most complex and challenging issue relates to development of agriculture. While over 60 per cent of the workforce is dependent on agriculture, the sector accounts for barely 20 per cent of the GDP.
The passage of time will ameliorate these changes in the demand for and supply of safe assets – but only partially. Any long-run forecast has enormous attendant uncertainties. But I expect that for a considerable period of time – possibly the next five years or more – credit market access will remain limited relative to what borrowers had available in 2007.