This report draws on limited, availabledata to analyze selected economic, and social issues, whichinclude better understanding of poverty, and inequality inrelation to real income, and, improving the allocation ofsocial expenditures, while increasing the effectiveness ofsocial programs. The deterioration of social, and humancapital should be prevented, by simultaneously promoting itsaccumulation. The report reviews the dismal economicperformance of the country over the last decade, where theinability of policymakers to cope with the oil cycles, andprices decline prevails. Moreover, the country'sdependence on the oil sector has deepened, while the shareof agriculture, and manufacturing decreased, aggravated bythe lack of export diversification, and the negative impactof the overvalued domestic currency on externalcompetitiveness. Not surprisingly, labor productivity alsodecreased, reflecting a low real economic growth, whichresults in higher unemployment, poverty and inequalityincreases. The needed acceleration of human, and socialcapital development focuses on education, health, and thedecline of crime and violence, suggesting continuedimplementation of primary education reforms, through thedevelopment of new curriculum, improved quality of basiceducation, and educational financing. Health recommendationsinclude efficient resource allocation, prioritization ofhigh-impact programs, and expanded private participation,and institutional development.
PDF
download
878987797
028-85220240
