The declines in the Central Bank Business Tendency Survey indicators and domestic sales of automobiles as well as the fall in the Consumer Confidence Index also support this anticipation. Thus, it seems likely that the rate of growth will decelerate to a certain extent in the second half of 2006 and the first half of 2007. At this stage, I would like to draw your attention to the following point: What Turkey needs is to sustain growth at levels close to its potential. The uninterrupted course of growth in recent years is just the beginning. This process is a dynamic one. Structural reforms are extremely important and should be reinforced with micro measures, and a strategic vision should be adopted in line with changing needs and new structures. The Ninth Development Plan provides significant ground in this regard and should be put into implementation immediately. I would also like to say a few words about employment, which is another important issue on the agenda of Turkey. The number of people employed is gradually increasing in line with the high growth performance in our country. In the last one-year period, nine hundred seventeen thousand (917,000) new employment opportunities were created in sectors excluding agriculture. Moreover, in accordance with the structural transformation process in the economy, the sectoral distribution of employment is changing and a rapid shift is observed from the agricultural sector to other sectors.
In addition, robust internal  BIS Review 40/2003  3  controls which are designed to provide qualitative standards are also necessary to complement the quantitative analysis of risk and provide a check and balance in the overall risk management practices. The Malaysian experience Let me now take the opportunity to share with you Malaysia’s experience in addressing some of these issues. The blue print for the development of the financial sector in Malaysia is outlined in Financial Sector Masterplan that was released about three years ago. The Masterplan is all about determining the future directions of the financial system and to define the financial structure that is most appropriate to our requirements as our economy moves to the next stage of development. It therefore provides the direction and common purpose for all the relevant parties in the financial sector, the industry, the market participants, the regulators, and the government. In emerging economies, the role of the government and the regulator is important in particular to prioritise policy goals, build the infrastructure, provide the legal and supervisory framework, and in addressing market failures. The key emphasis of the plan is to move toward a more diversified and balanced financial structure with a strengthened institutional framework, enhanced market infrastructure and practices, and an appropriate regulatory environment in line with the transformation that has taken place. The Asian crisis highlighted the vulnerability associated with fragmented financial systems and the risk of excessive reliance on the banking sector.