3.3  Economic growth, investment and growth strategy  Ladies and gentlemen, when we look at things from an economic perspective, what is known as potential growth is a particularly relevant factor. Potential growth is normally defined as the aggregate growth that can be achieved when utilisation of all production factors is normal over time.
Economic potential growth cannot be observed directly, meaning it cannot be measured directly either. Instead, it has to be estimated as precisely as possible. I don’t intend today to go into the methods used and the imponderables they entail. However, I think the connection between demographic trends and economic potential growth can be summed up with the following words.