The economy is recovering gradually. A pension reform has been approved, and better prospects for progress on structural reform are lifting confidence and supporting investment, which is also buoyed by easier financial conditions. Low inflation and easier withdrawal of funds in individual unemployment insurance accounts will underpin stronger consumption. On the assumption that the reform agenda continues to advance, growth is projected to gain momentum in 2020. However, high unemployment is falling only slowly, and newly created jobs are of low quality, including many informal jobs.