Italian Prime Minister Mario Draghi said policymakers should be content to return economic growth to the level before the COVID-19 outbreak, adding that even achieving this smaller goal would require more stimulus measures.
“Our goal must be to get economic activity back at least back on track before the pandemic,” the former ECB president said in a speech in Barcelona on Friday. “We won't be able to achieve this goal without extra effort. Therefore, we must act quickly and effectively.”
Draghi said that after protecting businesses from bankruptcy and workers from unemployment, the government should now focus on supporting demand.
“We should aim to surpass the pre-pandemic growth trajectory,” he said.