However, the institute opines that the economy won’t return to pre-crisis levels until 2014 and argues that the Central Bank continue with its expansionary policy, as stated by The Local.
“Our assessment is that we’re still in an economic slump where unemployment is higher than normal,” added the NIER. “Therefore there’s a need for stimulus, first from monetary policy but there is also some room for fiscal police stimulus.”
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Max Chen contributed to this article.