The Implications of COVID on Growth in the Medium to Long Term

In terms of the medium term, we are on the cautious side. If you think of 2025, by which time the COVID impact should be all behind us. And what's the growth forecast? We are entering at 4%. You know, it's before COVID in 2019,. I probably would have said 5%. But given what's going on over the past few years, some structural changes and whether it's a housing sector or geopolitical front... The cost of all of these would be slower economic growth.