2017年宏观金融环境评估

General Assessment of the Macroeconomic Situation

过去五年，全球经济一直陷于低增长陷阱，增长率始终徘徊在3％左右。持续增长不足已经使未来的生产预期承压，因此，当前的支出和潜在的产出增长都将呈现下降趋势。全球贸易和投资的持续疲软制约了劳动生产率和收入的提高。而这两项直接关系到消费能否可持续。然而，财政政策如果有效，将能够有效激发私营经济活动的活力，

For the last five years the global economy has been in a lowgrowth trap. Persistent growth shortfalls have weighed on future output expectations and thereby reduced current spending and potential output growth. Exiting the low-growth trap depends on policy choices, as well as on concerted and effective implementation.