Many advanced countries (and, among the emerging ones, China) have already reached, or are about to reach, pre-crisis output levels. In Italy, we expect this to happen in the first half of 2022. There is unavoidable uncertainty about such projections. The latest crisis was utterly unprecedented.
With this growing demand from consumers for a diverse mix of products and innovations, the financial sector requires an enabling environment to foster innovations to the changing financial market environment. However, we need to take appropriate measures to address any emerging risks and mitigate any potential impact to the financial system stability. 6.