15 years after the country’s 2003–04 financial crisis, reforms put in place have contributed to strong economic performance over the past decade and a restoration of external stability. The economy is now growing close to potential, inflation is within the central bank’s target range, unemployment is near historical lows, and the external current account deficit has narrowed. The economic outlook remains positive with broadly neutral monetary and fiscal policy expected to keep economic activity on trend and inflation within the target band over the medium term. However, risks around the outlook persist, with the main downside risks stemming primarily from external factors. Political risks also remain a key issue.