European economy to start to recover next year


June 14, Fineko/abc.az. European Central Bank’s president Christine Lagarde said she expected the European economy to return to pre-COVID-19 levels in Q1 of 2022.

ABC.AZ reports that it is a quarter earlier than the ECB's previous forecast.

According to Lagarde, the economic recovery has already begun, and the bank is already busy supporting this growth.

In addition, Bank’s representative added that it is too early to talk about the suspension of the PEPP program (Pandemic Emergency Purchase Program) initiated by the CBA (non-standard monetary policy initiated by the bank in response to the pandemic).