2. Industry: How to cope with new competitive environment

• • Disinflation Process
  • • Three Decades of Chronic Inflation (period averages,%):

• 1970’s : 26.0

• 1980’s : 47.2

• 1990’s : 77.4

• • • Period of disinflation process:
    • 2000 2001 2002 2004 2005 2006
    • 68.5 29.7 18.4 9.3 7.7 9.7
    • Having lived through 3 decades of chronic inflationary process, corporate sector is adjusting to new situation:
    • • Strategic approach, revising business model, mergers and acquisitions