2  BIS Review 97/2006  euro area accounted for 1.9% of GDP and the ICT sector represented as much as 20% of this amount, while in the US, 2.8% of GDP was spent on R&D and the ICT sector represented as much as 30% of this total.
As you know the FSC and CBB host two of these conferences every year, the other one with a focus on our international financial services. (The 2015 international financial services conference took place on April 10). Today’s conference comes at a time when the economy has overcome the foreign exchange challenge of 2013 by the decisive budgetary adjustment taken in that year.