Meanwhile, it is not surprising that we had a lower-than-expected GDP growth in the first two quarters of the year. To a large extent, the delay in the passage of the 2019 budget and the election ban significantly weakened government spending and public construction. Nevertheless, we expect catch-up fiscal spending by the Government to buoy the growth momentum in the second half of 2019.
It is, of course, impossible to entirely eliminate risk without stifling competition, unduly damaging innovation and efficiency and incurring prohibitive costs. However, to contain risks as much as possible, the Bank’s prudential supervision system includes a comprehensive and rigorous authorisation process and a system of ongoing supervision which includes both quantitative and qualitative measures.