This goes to show how regulators value your role in the economy, and we expect all of you in PICPA to be our partners in the pursuit of economic recovery and growth by consistently observing the highest level of professionalism.
That is because real purchasing power has declined due to a rise in energy and food prices, and monetary tightening, which was implemented to contain the overheating of the economies, have shown effects. In addition, there are the effects of the slowdown in advanced economies.