Plan For Action

National Economic Recovery Plan
Chapter 3


A National Economic Recovery Plan should set a clear direction on the actions to be taken. It must exhibit a strong sense of urgency. This chapter deals with the details on the line of actions that should be adopted. Although the measures and lines of action are grouped into separate categories, it is useful to bear in mind that in practice they are highly interrelated rather than falling into watertight compartments. The successful implementation of one set of measures under a particular objective will also have beneficial effects on meeting the other objectives.

Although growth will continue to be important, it should not be the prime consideration in policy-making at this stage of the countryís development. Instead, the focus of policies will be on restoring stability in the currency and capital markets, as well as strengthening financial markets and economic fundamentals. It is important to ensure that inefficiencies in the economy are removed and excessive credit expansion is curbed to enable the economy to return to a sustainable growth path in 1999 or 2000. In addition, sectors that are adversely affected by the crisis should be restored, while the equity and socio-economic agenda must be continued.

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