The political and business environments are mired by corruption and legislative uncertainty. Nevertheless, the tax burden is relatively low, adding to competitiveness. Although the Coronavirus (COVID-19) pandemic caused inflationary pressures to ease, it was accompanied by a marked contraction in output. Both Millennials and Late Lifers are set to increase their spending power. However, growing depopulation could cause skills shortages in the long run. Innovation capacity remains limited.
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