ON COMMITMENT 'Although our economic performance at the moment is encouraging, many challenges lie ahead. While formulating our economic development and fiscal policies, we should be alert to all such challenges and address them with the best interests of our community at heart. This is the government's commitment to the people of Hong Kong' ON SPENDING 'My fiscal targets are to keep our accounts in balance and the share of public expenditure in GDP at 20 per cent or below over the next few years. For 2006-07, public expenditure is forecast at around 18 per cent of GDP, lower than most other developed economies' ON RAINY DAYS 'Hong Kong is an externally oriented economy and thus highly susceptible to outside shocks. As our economy is also subject to cyclical fluctuations, there is all the more reason for us to provide against a rainy day when the economy is strong, or else we will have too little room to introduce relief measures for our community during a downturn'