In its new baseline scenario, the European Central Bank (ECB) expects eurozone GDP to see a 8.7 percent decrease this year, to increase by 5.2 percent in 2021 and to further raise by 3.3 percent in 2022, ECB President Christine Lagarde said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 04th June, 2020) In its new baseline scenario, the European Central Bank (ECB) expects eurozone GDP to see a 8.7 percent decrease this year, to increase by 5.2 percent in 2021 and to further raise by 3.3 percent in 2022, ECB President Christine Lagarde said on Thursday.
"In the baseline scenario of the projections, annual real GDP is expected to fall by 8.7% in 2020 and to rebound by 5.2% in 2021 and by 3.3% in 2022. Compared with the March 2020 ECB staff macroeconomic projections, the outlook for real GDP growth has been revised substantially downwards by 9.5 percentage points in 2020 and revised upwards by 3.9 percentage points in 2021 and 1.9 percentage points in 2022," Lagarde said at a press conference explaining ECB Governing Council's monetary decisions, as quoted in a press release.
In the baseline scenario, eurozone's yearly inflation is expected to amount to 0.3 percent in 2020, 0.8 percent in 2021, and 1.3 percent in 2022, the ECB president went on to say.
