Eurosystem staff macroeconomic projections for the euro area foresee real GDP falling by 8.7% in 2020 and rebounding to growth rates of 5.2% in 2021 and 3.3% in 2022, which means that GDP at the end of 2022 will still be 4% lower than projected in our March 2020 staff projections.
With today’s financial systems being globally interconnected and dependent on technical core infrastructures and services, cybersecurity incidents compromising such a core function could, by contagion across sectors and jurisdictions, even develop a capacity to undermine global financial stability. The SARB joined the Alliance for Financial Inclusion (AFI) during 2016. Representatives from the SARB have attended AFI Global Policy Forums in the past two years.