Domestic demand is now driving growth. |
Monetary policy could in the short run focus on absorbing some of the excess liquidity to reduce the risk of excessive credit growth. |
The debt has been formed mainly because of mismatches for years between expenditure assignments and revenues of local governments. |
We believe (the government) should ... shift spending from more investment-oriented to consumption-oriented. |
We expect most of the growth will come from the domestic side as has already happened over the last quarter of 2005. |