<!-- Start of picture text --> 200.0 18.0<br>180.0 - 15.0<br>A peaeneae<br>160.0 —| oeeeepepw<br>a i 7 Terre<br>at maNAbrearahs . = 8 |<br>soo EE LE See ee Ee Eee Ly<br>coaleee»eee»» o882888888ad882888888adad oO a o a N m st ”8288o8288oo S cs)88<br>lm Real GDP growth GDP growth growth (%, right) mmm Public Investm. (% of GDP, Public Investm. (% of GDP, Investm. (% of GDP, (% of GDP, of GDP, GDP, right)<br>—RER (index 2008=100, left)<br><!-- End of picture text -->

<!-- Start of picture text --> 25.0<br>20.0 ii is<br>15.0 - i i<br>100 ———— i a<br>o BREET SE EEE EEEE<br>5.0 iF<br>15.0<br>gsSssseessseess2828Sssseessseess28282828 358 828H2aR F445eses 8BB<br>@ Real GDP growth Real GDP growth GDP growth growth (%) —® RIR (%) (%)<br><!-- End of picture text --> <!-- Start of picture text --> 200.0 18.0 25.0<br>180.0 - 15.0 20.0 iii sis<br>A peaeneae 15.0 - i i<br>160.0 —| oeeeepepw 100 ———— i a<br>a i 7 Terre o BREET SE EEE EEEE<br>at maNAbrearahs . = 8 | 5.0 iF<br>soo EE LE See ee Ee Eee Ly 15.0<br>coaleee»eee»» o882888888ad882888888adad oO a o a N m st ”8288o8288oo S cs)88 gsSssseessseess2828Sssseessseess28282828 358 828H2aR F445eses 8BB<br>lm Real GDP growth GDP growth growth (%, right) mmm Public Investm. (% of GDP, Public Investm. (% of GDP, Investm. (% of GDP, (% of GDP, of GDP, GDP, right) @ Real GDP growth Real GDP growth GDP growth growth (%) —® RIR (%) (%)<br>—RER (index 2008=100, left)<br>10.0 400<br>50.. mmm 95%90%90% --- 99%95%95% 350 mmm95%90% -- 99%95%95%90% -- 99%95%90% -- 99%95% -- 99%95%- 99%95% 99%95%95%<br>8.0 mmm 75% - 90% mmm 75% - 90%<br>mmm 67% - 75% Mm67%67% - 75% 75%<br>7.0 mm 50% - 67% 67% 300 mm5.0% - 67%5.0% - 67% - 67% 67%<br>60 mmm 33% - 50% mmm33% - 50%33% - 50% - 50% 50%<br>mmm 25% - 33% mmm25%25% - 33% 33%<br>5.0 mmm 10% - 25% 25% 250 mmm 10% - 25% 25%<br>4.0 mmm 5% - 10% mmm 5% - 10%<br>1% - 5% 1%-5%-5%5%<br>3.0 o28S28S8SS t+$88$88888 ©38S&38S&8S&S& ©$8&$8&8&& RK&8B&B&8B&B8B&BB&B 8&€&6&&€&6&&6&& D9&@2@8FR&@2@8FR8FRFR OCgs8KRgs8KR8KRKR +H&8BR&8BR8BRBR Af&8KKf&8KK8KKKK om88A88A8AA ---ExpectedGrowth 200 os8&s8&8&& tt=88=88888 838&38&8&& ©8&SR8&SR&SRSR HR538R538R8RR &@88&8RB88&8RB8&8RBRB D928KR28KR8KRKR 088R88R8RR HH&8RK&8RK8RKRK KN&8KK&8KK8KKKK om&88AR&88AR8ARAR — -— — Expected Parity<br><!-- End of picture text -->

<!-- Start of picture text --> 10.0<br>50.. mmm 95%90%90% --- 99%95%95%<br>8.0 mmm 75% - 90%<br>mmm 67% - 75%<br>7.0 mm 50% - 67% 67%<br>60 mmm 33% - 50%<br>mmm 25% - 33%<br>5.0 mmm 10% - 25% 25%<br>4.0 mmm 5% - 10%<br>1% - 5%<br>3.0 ---ExpectedGrowth<br>o28S28S8SS t+$88$88888 ©38S&38S&8S&S& ©$8&$8&8&& RK&8B&B&8B&B8B&BB&B 8&€&6&&€&6&&6&& D9&@2@8FR&@2@8FR8FRFR OCgs8KRgs8KR8KRKR +H&8BR&8BR8BRBR Af&8KKf&8KK8KKKK om88A88A8AA<br><!-- End of picture text --> <!-- Start of picture text --> 400<br>350 mmm95%90% -- 99%95%95%90% -- 99%95%90% -- 99%95% -- 99%95%- 99%95% 99%95%95%<br>mmm 75% - 90%<br>Mm67%67% - 75% 75%<br>300 mm5.0% - 67%5.0% - 67% - 67% 67%<br>mmm33% - 50%33% - 50% - 50% 50%<br>mmm25%25% - 33% 33%<br>250 mmm 10% - 25% 25%<br>mmm 5% - 10%<br>1%-5%-5%5%<br>200 — -— — Expected Parity<br>os8&s8&8&& tt=88=88888 838&38&8&& ©8&SR8&SR&SRSR HR538R538R8RR &@88&8RB88&8RB8&8RBRB D928KR28KR8KRKR 088R88R8RR HH&8RK&8RK8RKRK KN&8KK&8KK8KKKK om&88AR&88AR8ARAR<br><!-- End of picture text -->