In the 1960s, Korean construction firms won large contracts to build roads in South East Asia. These firms sourced their inputs from South Korean manufacturers, providing the first growth stimulus for them. Similarly, South African construction firms can grow their order books globally and use a proportion of South Africa material and capital equipment, stimulating our manufacturing sector.
As I have demonstrated, the ECB has been willing and able to calibrate the combination of its unconventional policy instruments in directions and on a scale that gives sizeable support to the economy and continues to support the convergence of inflation to our aim.