In an effort to manage external shocks that may affect the wellbeing of the people and businesses, the government has set a medium-term priority of implementing structural reforms that will strengthen the country’s economic resilience.

In its pre-budget statement, the Finance Ministry (MOF) said the reforms will be done by, among others, increasing productivity and sustaining innovation; promoting regional collaboration to ensure resilient infrastructure development and energy provision; enhancing the social protection system; strengthening human capital development; as well as enhancing transparency and accountability of public institutions.

“These measures will...