1 Subjects: “...Contracting Out...”

2 “... and productivity growth and enhanced resilience to the challenges of population ageing. The paper lays out the case...”

3 “... countries, and lays out the key macroeconomic policy challenges for the future...”

4 “... appropriated in the federal budget, ruling out a direct intergovernmental credit. The IMF staff is of the view...”

5 “...This 2014 Article IV Consultation highlights that Croatia remains stuck in an unusually drawn out...”

6 “... factors. The paper lays out some stylized facts about the Hungarian economy that could explain the growth...”

7 “... set out to accomplish. The macroeconomic strategy and program design correctly addressed the most...”

8 “... and the significance of reforms to these markets are played out in the first paper. The second paper describes...”

9 “... with the purpose of sorting out the relative importance of four factors: conventional monetary policy stance...”

10 “... to be bottoming out. By contrast, net exports are declining as demand from trading partners has slowed. Private...”

11 “..., and eventually foster a rebound in investment. The fiscal strategy, set out in the current multi-year budget law...”

12 “... will continue for many decades on current projections, but output and investment have flattened out...”

13 “... is needed to flesh out the measures required to support internal devaluation and private sector deleveraging...”

14 “...This Technical Note discusses the results of the stress testing carried out as part of the 2016...”

15 “... used up most of Montenegro’s fiscal space and will crowd out other productive spending...”

16 “... address these challenges. The program lays out a strategy to restore financial and economic stability...”

17 “...: since increasing commodity prices drove resources out of the non-commodity tradable sector, decreasing...”

18 “... profits to grow out of their asset quality problems, rebuild capital buffers, and finance the real economy...”

19 “... suggest that private consumption has bottomed out. Employment has stabilized and corporate profits...”

20 “... earthquakes, leading the economy to contract by 8.0 percent in 2020. Vaccinations have been rolled out...”