Inflation is expected to be around 3.0 percent by the year-end and our foreign reserves were recorded at $ billion as at 03 September 2013, sufficient to pay for 5.2 months of retained imports of goods and services. Investment is forecast to be around 28 percent of GDP this year, above the Government target of 25 percent.
I am also concerned about the lack of further reforms in euro area countries, even though much has already been done. But I strongly oppose the view that the central bank should stand passively by if governments are not doing enough. We are acting in accordance with our mandate. And governments would probably have done even less, while things were falling apart.