This, I feel, is important to highlight because your own business strategy appears to reflect the more “inclusive” track of the industry. By this I mean that your branching footprint has clearly extended beyond cities.
Because governments receive a significant share of increased commodity-related revenues, they have the power to alleviate, but also to magnify, some of these pressures. Let me now turn to the implications of a terms-of-trade shock for labour productivity and for potential output.