Also, in the context of regulatory reforms, with firms and households becoming more proactive in economic activity, it will become clear which regulatory and institutional aspects have hampered economic activity. Actual needs will become a powerful driving force in promoting regulatory reforms. Second, I will describe the impact of structural reforms on the economy.
Structural reforms, in principle, are needed to raise the long-term growth of the economy and its sustainability. In some countries, and in Europe in particular, it is often discussed whether, in the short run, structural reforms entail pain and thus impede economic activity.