Household consumption growth declined while government consumption grew at an average rate of 2,9 per cent per annum and once again came to the fore as the strongest expenditure component. However, this implied a higher tax burden for the man in the street and large government dissaving, which could not be sustained.
From 1993 to 1999 (and incidentally also from 1993 to the third quarter of 2000) real GDP growth accelerated once more to some 2,6 per cent per annum. Confidence started to return, not only as sanctions were abandoned but also especially as evidence accumulated that economic policies were going to be prudent, sustainable and transparent.