I therefore welcome you all to the seminar and invite you to contribute to meaningful discussions which will further the development of our SME sector and redound to benefit our economy over the medium and long term. I thank you very much for your participation and I again thank the various sponsors, speakers and all those who have contributed to make this seminar possible.
In this environment, there has been a slowing of exports to East Asian and other emerging economies that have driven the recovery from the sharp decline after the bankruptcy of Lehman Brothers. Private consumption, meanwhile, remains relatively firm, supported by the extremely hot summer this year and a last-minute increase in demand for durable consumer goods ahead of the expiration of government subsidies.