The two together should shape the future of our economies and ensure that they adapt to the “new normal” that will materialise once the peak of the pandemic is over. For these two reasons, the Next Generation EU package must become operational without delay. The package’s additional resources can facilitate expansionary fiscal policies, most notably in those euro area countries with limited fiscal space.
For 2017 and 2018, it is too early to tell, but the growth rates should be about the same.