KEY ISSUESContext: Despite an unfavorable external and domestic environment, economicperformance improved in 2013 after a difficult 2012. The European crisis led to a deceleration of activity in the nonprimary sector, but GDP growth is expected to reach about 4.5 percent owing to a bumper cereal crop. Inflation remained low. The external current account deficit declined and reserves remained stable at more than four months of imports. The fiscal deficit narrowed as expected, owing to lower international oil prices that reduced the cost of subsidies and as a result of measures taken by the gove