The US economy continues to show resilience despite uncertainty from the upcoming fiscal cliff. Private consumption has strengthened due to improvements in the housing market and labor market. However, business investment and hiring remain constrained by policy uncertainty, particularly regarding how the large budget deficit will be addressed in the long run. If major fiscal policy issues can be resolved decisively in 2013, businesses may increase spending and hiring to boost economic growth. But continued uncertainty risks prolonging the current sluggish recovery.
Market Outlooks
We leverage a global network of investment consultants and researchers to deliver industry specific knowledge and dynamic tools, which allows our clients to make informed strategic investment decisions.
Economic and Structural Report August 2008, extract fromSwedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Our major goal is to help you achieve your academic goals. We are commited to helping you get top grades in your academic papers.We desire to help you come up with great essays that meet your lecturer's expectations.Contact us now at http://www.premiumessays.net/
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Market Outlooks
We leverage a global network of investment consultants and researchers to deliver industry specific knowledge and dynamic tools, which allows our clients to make informed strategic investment decisions.
Economic and Structural Report August 2008, extract fromSwedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Our major goal is to help you achieve your academic goals. We are commited to helping you get top grades in your academic papers.We desire to help you come up with great essays that meet your lecturer's expectations.Contact us now at http://www.premiumessays.net/
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Getting back to growth: Global powers of the consumer products industry 2011Alfred_angst
Global powers of the consumer products industry 2011
Getting back to growth
Global powers of CP 2010Global Powers of the consumer products industry, from Deloitte Touche Tohmatsu Limited (DTTL), identifies the 250 largest consumer products companies around the world for the past fiscal year. But the report is much more than a list - it also examines trends for companies to consider as they plan their growth strategies, provides a global economic outlook for retail, and discusses "Q" ratio - a way of drawing inferences about the future performance of retailers by examining current financial information.
Please download a copy of the report below to see the list and read about the themes that will characterize the next few years, such as the emerging middle class in developing markets, rising and volatile commodity costs, and the need for companies to place sustainability at the heart of their business strategy.
As the debate about future economic growth continues, we provide selected excerpts from Q4 earnings transcripts. Quotes from CEO's of companies across multiple industries. Excluding energy and manufacturing, most CEO's indicated a positive growth outlook for their respective companies and industries.
If U.S. politics do not derail the recovery, pent-up demand can drive faster economic growth. Fixed-income outflows appear likely to continue, pushing rates higher.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Western governments are hopelessly addicted to deficit financing while refusing to address looming funding issues - with apologies to the embarrassingly foolish Angela Merkel, politicians can no more successfully “battle” the markets than you and I can successfully “battle” gravity. Petrocapita is an investment trust built around the premise that demand for energy will continue to move prices higher over the long-term. Petrocapita was created to allow investors to add professionally managed oil & gas assets directly to their portfolios.
The recession that began in the late 2000s was, to date, the worst economic downturn in the United States since the Great Depression. They didn't call it the "Great Recession" for nothing.
Getting back to growth: Global powers of the consumer products industry 2011Alfred_angst
Global powers of the consumer products industry 2011
Getting back to growth
Global powers of CP 2010Global Powers of the consumer products industry, from Deloitte Touche Tohmatsu Limited (DTTL), identifies the 250 largest consumer products companies around the world for the past fiscal year. But the report is much more than a list - it also examines trends for companies to consider as they plan their growth strategies, provides a global economic outlook for retail, and discusses "Q" ratio - a way of drawing inferences about the future performance of retailers by examining current financial information.
Please download a copy of the report below to see the list and read about the themes that will characterize the next few years, such as the emerging middle class in developing markets, rising and volatile commodity costs, and the need for companies to place sustainability at the heart of their business strategy.
As the debate about future economic growth continues, we provide selected excerpts from Q4 earnings transcripts. Quotes from CEO's of companies across multiple industries. Excluding energy and manufacturing, most CEO's indicated a positive growth outlook for their respective companies and industries.
If U.S. politics do not derail the recovery, pent-up demand can drive faster economic growth. Fixed-income outflows appear likely to continue, pushing rates higher.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Western governments are hopelessly addicted to deficit financing while refusing to address looming funding issues - with apologies to the embarrassingly foolish Angela Merkel, politicians can no more successfully “battle” the markets than you and I can successfully “battle” gravity. Petrocapita is an investment trust built around the premise that demand for energy will continue to move prices higher over the long-term. Petrocapita was created to allow investors to add professionally managed oil & gas assets directly to their portfolios.
The recession that began in the late 2000s was, to date, the worst economic downturn in the United States since the Great Depression. They didn't call it the "Great Recession" for nothing.
Departamentos en Lima a ritmo de burbuja blogneiracar
En la base de datos, del portal del BCR, se presenta la serie de precio promedio - por m2 - de los precios en los distritos élite de La Molina, Miraflores, San Borja, San Isidro y Surco. La serie arranca de 1998 y su evolución se puede resumir en los siguientes términos. En la década 1998 – 2007, el precio promedio registró estancamiento con ligera caída gradual .En cambio, desde el 2007, el movimiento ha sido frenético: un crecimiento promedio–geométrico anual en soles corrientes de casi 24% y en dólares de algo más del 29%; con lo que el precio en dólares casi se ha triplicado en tan solo cuatro años, pasando de 516 a 1,444 dólares por m2.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
In July 2009 we released findings from an extensive research initiative focusing on how Americans were dealing with the unfolding recession. In that report, we outlined many issues and challenges faced by people in these turbulent times. But our data also revealed opportunity amidst the gloom, and this became the basis for suggesting a number of paths of possibility for brands.
The 2009 release reflected analysis of data collected in late March/early April of that year from a nationally representative sample of 1,000 American adults. Six months later, in October 2009, we fielded a tracking wave in order to understand what movement, if any, had occurred in terms of recession-related attitudes and behaviors. While some measures revealed a slightly less frightened consumer profile, the data overall did not paint an encouraging picture for brands.
Now, two years since our first report, we’ve completed another update, tracking many of the same measures as well as some new ones, this time among a sample of over 1200 American adults -- half interviewed in January 2011 and half in May 2011.
While there are some bright spots here and there in the data, we mostly see a picture of still-broad weakness in people’s attitudes and behaviors. This suggests the country has a long way to go before confidence in the national economy and in one’s personal financial situation is strong enough to resume robust consumer spending. The recession may be technically over, but for most Americans it is simply not so.
Similar to The state of the us economy marco annunziata ge market sense 1 nov12 (20)
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The state of the us economy marco annunziata ge market sense 1 nov12
1. MARKET SENSE 1 November 2012
Hard to kill
Today’s data confirm that the US economy is hard to kill. Private consumption has found a
second wind, helped by the stabilization in the housing market: it pulled us out of the summer
slump, and seems set to carry us into the new year.
Uncertainty on the policy outlook, however, holds back investment and hiring. The fiscal cliff is
the most obvious source of uncertainty, but underlying it is a substantial medium-term fiscal
challenge that needs to be addressed. If major policy uncertainty is resolved in a decisive and
speedy manner in 2013, then US businesses should be able to take the baton from consumers.
The external environment should help as well: by mid next year, emerging markets should
show stronger strength after the recent cyclical weakening. Kicking the can down the road, on
the other hand, could be very costly.
The US economy has the flexibility and the innovation potential to get back on a fast growth
track, but for that to happen, there are important challenges to be addressed on both the
fiscal and structural side. The sooner the better.
Today’s data confirm that the US economy is hard to kill. It continues to defy the doomsters’
predictions of inescapable collapse (a year ago, high profile experts declared that the US was already
back in recession). A sober assessment of the data is especially difficult with just a few days to go before
Election Day, but it extremely important to understand what possible economic scenarios await us in
2013 and gauge both downside and upside risks.
Consumer confidence continued to rebound in October, and the Conference Board index reached the
highest level since February 2008. The University of Michigan confidence index shows a very similar
picture. The positive trend in consumer confidence matches the dynamics in retail sales, which rose over
4% year-over-year in October. This is still a relatively brief recovery form the summer slump—but we got
a rebound rather than a deepening downturn. The tragic and disastrous impact of hurricane Sandy on
the US East coast will undoubtedly worsen some of these indicators in the next couple of months, but is
unlikely to change the underlying nation-wide trend.
2. MARKET SENSE 1 November 2012
Housing and jobs are the main factors behind the stronger consumer confidence. Evidence that the
housing market has bottomed out and started a gradual recovery gets more convincing every month.
Only a slow and gradual improvement, but an improvement: housing is no longer a headwind to the
recovery. Initial jobless claims declined this week, beating expectations, and confirming the picture of a
slow firming up of the labor market. The pace of job creation is disappointing, and I remain of the view
that the labor market weakness has a bigger structural component than the Fed seems to think.
The improved trends in consumer confidence and consumption are consistent in principle with a
troubling entrenched dichotomy between the haves and the have-nots in the labor market: on one
side, people who have the right skills and are now less afraid of losing their jobs; on the other people
who still find themselves shut out of the labor market. Data on voluntary separations (workers resigning
to pursue other opportunities) and indications of increased labor mobility seem to point in the same
direction—a reminder that skills and education will play a more and more important role in employment
trends as we go forward. Narrowing this dichotomy is key to prevent a deterioration in the potential
growth rate of the economy.
3. MARKET SENSE 1 November 2012
Business sentiment as measured by the manufacturing ISM also improved, rising for the second
consecutive month in October. This is another testament to the resilience of domestic consumption,
given that international trade has weakened in the past few months.
Investment and hiring, however, are still held back by the uncertainty on the post-election outlook,
and in particular on how the “fiscal cliff” will be addressed. According to the Washington Post, a study
by the National Association of Manufacturers to be released tomorrow (Friday) estimates that the
Damocles’ sword of the fiscal cliff will have cost us about one million jobs this year—quite a costly
uncertainty ( http://www.washingtonpost.com/business/economy/fiscal-cliff-already-hampering-us-
economy-report-says/2012/10/25/45730250-1ecf-11e2-ba31-3083ca97c314_story.html ). Given the
precedent of last year’s debt ceiling fiasco, it would be prudent to assume that any agreement on the
fiscal cliff will only be reached at the very last moment, and possibly after some of the cliff’s automatic
tax hikes and spending cuts have already been triggered. But in the end common sense should prevail
and almost everyone expects that the bulk of the fiscal cliff will be avoided.
The real issue is that the US’s medium term fiscal picture looks precarious, and will eventually require
some tough decisions. On current legislation, the Congressional Budget Office estimates that debt held
by the public might rise to 200% of GDP by 2035. The bulk of the projected rise is driven by health care
costs, but the current underlying state of public finances is far from healthy, with gross public debt in
excess of 100% of GDP and a fiscal deficit of close to 9% of GDP even as interest payments on the debt
are at exceptionally low levels (2012 IMF projections). There is a wide window of opportunity to act: US
government bonds are still seen as a safe haven, and the projected rise in health care costs can be
addressed without a short-term budget squeeze. Public finances can be brought back on a sustainable
track without draconian growth-destroying measures. But uncertainty is costly, and this is a large
uncertainty to face, especially when compounded by question marks on whether US potential growth
has weakened, and by fears on the external environment.
If major policy uncertainty is resolved in a sufficiently decisive and speedy manner in 2013, then US
businesses should be able to take the baton from consumers. US corporates are healthy, lean and
4. MARKET SENSE 1 November 2012
profitable, with cash to invest and an existing workforce already squeezed to capacity—the conditions
for an acceleration in investment and hiring are in place.
External conditions should turn more supportive by mid-2013. While Europe will still be in the
doldrums, emerging markets should start seeing the impact of the recent loosening in policies. We are
seeing early signs in China, where the pick-up in the PMI index is consistent with a soft landing to a 7-8%
GDP growth rate.
Kicking the can down the road, on the other hand, might be very costly. US consumers are doing a
commendable job at supporting economic growth through the year-end uncertainty, but their balance
sheets are still too weak to fuel a further acceleration into next year. The corporate sector will need to
take a greater role, and better visibility over the economic horizon is essential. Protracted uncertainty
could hold back hiring, undermining the improvement in both consumer and business sentiment,
prolonging the current state of sluggish and fragile economic performance.
The US economy has the flexibility and the innovation potential to get back on a fast growth track, but
for that to happen, there are important challenges to be addressed on both the fiscal and structural
side. The sooner the better.