The Argentine domestic economy continues to shrink in spite of a strong boost from the external sector. Since June 1999, the construction industry has declined by more than 15%, as federal and state budgets were slashed and private investment slowed. Supermarket sales have dropped by 3% over the last year. Business and consumer confidence is at its lowest since 1995. Interest rates are hovering at 8% above inflation, discouraging investment even further. Rising international interest rates are increasing the burden of Argentina's heavy foreign debt load, putting added pressure on the fiscal balance. The country is already saddled with one of the highest debt/GDP ratios in the region.