The National Assembly Budget Office (NABO) projects the economic growth rates in this year and in 2012 to be 3.8 percent and 3.5 percent and the average yearly growth rate from 2011 to 2015 to be 3.8 percent. The growth would continue to be slow in 2012 with a slowdown of the export resulting from the other countries’ efforts to control to the budget balance and weak domestic demand due to a contraction in the housing market and household debt. The large household debt could not only hinder household consumption but also impose a large burden on the national economy. The administration’s forecast of the growth (the average yearly growth rate from 2011 to 2015 to be 4.5 percent), however, seems optimistic, considering NABO’s forecast of the figures.