But I would think we need a savings rate of no less than 25 per cent of GDP and probably to move further, 25-30 per cent. A lot of efforts are being made to mobilize savings through the banks in different instruments, through the capital market and through privatization. The interest rate in the egyptian pound is still positive and compares well with interest rate on competing currencies. Confidence in the Egyptian pound is building up as it has been stable for so many years. Insurance companies too will become more active.
Insurance is still a small share of the national income.
An increasing number of private pension funds have been set up within ministries, institutions, banks, companies and so on. These possibilities of investment will invite people to reduce their conspicuous consumption. As you can see , we still have a lot of conspicuous consumption. Plus we are inviting more of the savings of the Egyptians abroad to come in various ways, whether in direct investments or through banks. There's a big margin still to be tapped in that.