Consistent with predictions in the previous Economic Quarterly Report, we predict GDP growth in 2016 at the level of 5.1%, which is higher compared to last year's GDP growth. This is due to strong consumption growth amidst low inflation levels. However, GDP growth in 2016 may be lower than potential due to stagnant government spending due to budget cuts twice in the second semester of 2016 and lower tax revenues compared to the target.

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