Bolstering human capital and institutions, and lowering the role of the state in the economy are critical to ensuring sustained and inclusive growth in
"Successful diversification, which the authorities appropriately consider as a primary long-term goal requires addressing key structural weaknesses, in particular regarding human capital and institutions – areas where the country has lagged behind successful emerging market economies," the mission noted.
Robust GDP growth in the previous years has contributed to increasing per capita income and reducing income inequality. However, the relationship between job creation and growth has been weak, particularly since the onset of the global crisis, says the statement.
To promote private-sector led non-oil growth and job creation, the government's long-term development programs (as envisaged in the
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