It gives me great pleasure to welcome you to this very special occasion, as we acknowledge an important milestone in our financial inclusion and development journey. I specifically thank our donors and stakeholders for availing their time to be with us today.
If potential growth is weak, even small disturbances can lead to very low growth rates or, in fact, to absolute declines in overall output. Looked at in that way, recessionary periods become more likely if potential growth is low. At the same time, the pressure on economic policymakers increases. When deflationary risks are under discussion in Germany, attention is soon focused on monetary policy.