The war’s consumption of able-bodied workers has driven is forcing civilian industries to pay more for scarce labour. To keep inflation in check, the central bank has had to hike its benchmark interest rate to 16%, further squeezing the private sector. The annual budget deficit is about $17 billion, but government#39;s borrowing capacity is of limited use if domestic banks are the only available lenders. Those same banks are increasingly exposed to losses as sky-high interest rates weigh on corporate borrowers Read The Rest at :
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