PETER ATTARD MONTALTO: Recovery needs to be fast and vast enough to support Big safety nets
As public vaccination (supposedly) finally starts on May 17, the economy takes a tentative further step towards recovery.
Yet some sobering facts don’t seem to fully have sunk in. The first is that of a likely permanent loss of output in the economy. The economy will take another two years to return to 2019 real output levels but it will never recover to the level of trend output one would have expected it to be at in the future...
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