However, because of the remaining balance-sheet adjustment pressures and the  BIS Review /1997  -2-  absence of leading industries, the increase in business fixed investment is unlikely to gather significant momentum for the time being.
By this I mean – inter alia – increasing labour force participation, enhancing competition in certain sectors, strengthening the rule of law, creating a growth friendly system of taxes and social transfers. In order to realize the “growth dividend” from this measures a well capitalised and competing banking sector, which is able and willing to lend to the private sector is essential.