In line with this, our projection from December 2020 foresees that the saving rate will fall only slightly below its long-run average for some time. [10] Still, this would be suﬃcient to fuel rapid growth in private consumption, making it a major engine of the economic recovery, once the pandemic has been brought under control.
3 Potential long-term effects of the coronavirus crisis Overall, the economic outlook is highly dependent on the course of the pandemic and, thus, very ncertain The baseline scenario of o r December forecast ass med that a medical sol tion s ch as a  uncertain.