It also interviewed several NPA managers including the NPA Manager who had been invited to prepare the memo, the CEO and others. Mr Bennett provided an update on progress of the NPA Board sub-committee’s work to the Reserve Bank Audit Committee at its 30 July meeting. The Freehills team provided their final report to the NPA Board sub-committee on 10 August 2007.
  Second, despite this strength in the mining sector, overall economic growth is turning out to be weaker. The forecasts published earlier this month reduced growth in GDP for 2011 to 3¼ per cent, versus 3¾ per cent expected last November.