As I have noted previously, "While policymakers and market participants know with certainty that these episodes will occur, [we] must be humble in [our] ability to predict the timing, scope, and duration of these periods of financial distress."
These growth levels have been maintained since the beginning of 2001 and signify the greater emphasis on service delivery in government’s fiscal strategy. The rate of increase in real fixed capital formation picked up during 2002 and reached an annualised level of 9 per cent in the second half of the year.