Since the mid-1990s, the personal saving rate has declined from roughly 5 percent of disposable income to less than 2 percent, and gross private saving (which includes corporate saving) has edged down from about 16 percent of GDP to less than 15 percent.
A consistent and speedy implementation of the RRF plans geared towards climate and digital transitions remains crucial. The war in Ukraine highlighted the importance of energy independence. Investing into developing renewable energy sources not only reduces geopolitical energy vulnerability; large-scale and ambitious green investment programmes also help offset the negative effects of automation – the loss of jobs and growing regional inequalities.