Summary

The domestic economy is expected to continue improving moderately, primarily driven by exports. However, the recovery in private consumption is weaker than anticipated.

Inflation is expected to show a slowing trend as the impact of supply shocks gradually diminishes amid weak demand-side pressure. The pace of this moderation is likely to be moderate.

The current account is likely to remain in surplus, propelled by the recovery of the semiconductor industry. Meanwhile, employment growth is anticipated to slow moderately, particularly in the service industry.