In the long term, two-tier mortgaging and a conservative loan policy will reduce the need for top-up collateral in periods when house prices are falling. Two-tier mortgaging will have the faster impact of the two. I realise that you are facing different challenges in this area, and it may therefore be natural to choose different solutions.
Our economy, as measured by GDP, turned in its best performance in 30 years by expanding at a faster-than-expected rate of 7.1 percent in the first three quarters last year. There are indications that this strong performance was carried through the fourth quarter last year, based on preliminary reports on agricultural output as well as the services sector which includes telecommunications and tourism.