The borrowing limit is reviewed upon request by a territorial minister of finance. The reason for that is it's left at an amount to ensure predictability for fiscal planning purposes. So you have an amount, it applies, and you know what it is. These are long-term projects we're talking about, so you need to know what your room will be for a very long term.
When a minister of finance applies to our minister for an increase, the analysis done is in keeping with the general approach to autonomy of the territorial governments to take the decisions they wish. We look at the general economic and fiscal outlook of the territorial government and its economy. We consult with territorial governments on what its forward-looking budget revenue stream is expected to be. We look at things like what interest rates are available or were available for existing debt of the territorial government, to get an idea of their ability to seek funds in the market.
What you're after is a general estimate of what the forward-looking ability of the territorial government, given its economic outlook, will be to carry a given amount of debt. There's a great deal of scenario analysis, as there are a lot of dynamic parameters in that. At the end of the day there is a decision taken about what a sustainable level will be.