The global economy is competing for the same dollar. We have not ranked well under the World Bank’s ranking of the ease of doing business. Singapore is ranked first in the world. What lessons can we learn from them? I am positive that we can address this particular structural issue and improve our world ranking.
By ensuring that inflation returns to the target of 2 per cent over the medium term, the recent monetary policy actions by the ECB can contribute to alleviating the drag on households’ real income and create the conditions for a return to sustainable growth and improved living standards.