But, in order to put these things into perspective, we should remember that the large list of positive factors I gave above still applies — we still have strong export growth, sound balance sheets in the corporate and financial sectors, asset markets which are not overheated, no over-capacity in physical investment, low inflation and macro-economic policies that are exerting an expansionary influence on the economy.
The over-performance against the primary surplus target set in the Economic Adjustment Programme by 1.2% of GDP in 2013 was a milestone achievement that provides a solid base for the attainment of the fiscal target in 2014 for a third consecutive year.