• Recent months economic activity point to growth in second quarter
• Housing market has started to normalize
• Year/year growth in 2010 will be slightly negative
• Financial system is strong
• New restrictive budget for 2011 could affect growth
• Pension reforms needed for medium, long-term health of system
• Need to remove doubts over the long-term health of the pension system
• Pension reform proposals will include progressive increase of retirement age
• Need to make retirement age 67 instead of 65 gradually over next 12 years