Together with the higher revenues, a rise in nominal GDP owing in large part to high inflation has led to significant decreases in debt-to-GDP ratios that had reached historically-high levels after the pandemic. Deficits, however, continue to be too high. In the fourth quarter of 2022 the deficit-toGDP ratio stood at 4.7% in the euro area.
I once again wish to thank the Honourable Premier Steven Marshall and the Honourable Michael Jeffery as well as the ADC organising team and sponsors for their priceless initiative and endorsement. I look forward to learning and discovering as much as I can on a technology that is set to take on the world.