"As we continue to implement these measures, we are maintaining an ongoing dialog with the investment community, including the ratings agencies, to ensure a clear understanding of our plan, our progress and our improving prospects." Actions the administration has taken to strengthen the Commonwealth's fiscal situation, promote economic growth, and support its credit standing include the following: José Pagan concluded: "We believe these measures, along with additional measures that are in the process of implementation, will spur economic growth as Puerto Rico moves forward with its robust plan to cut its budget deficit in half by 2015 and achieve a fully balanced budget by 2016. The Government Development Bank for Puerto Rico is working to complete our financing plan, which has been adjusted to account for ongoing market fluctuations and the private liquidity transactions the GDB has recently completed. This plan contemplates a possible COFINA III bond issue later this year, pending market conditions.