Inflation has continued to decline steadily and today it is at its lowest in 29 years. The building and construction sector has bottomed out and is showing signs of growth. The housing market is picking up. The auto and components industry has recorded positive employment growth in the last quarter after a long period of decline. We have survived the Asian financial crisis remarkably well.
Interest rates are now at lower levels than before the crisis began.
The exchange rate has remained steady. The fundamentals of our economic policy are in place and our economy is poised to grow at a faster rate. T International Investment Council is in the process of being established. Considerable interest has been shown in the proposal by the international business community. Our government is finalising the members of the Council.