• İstanbul 19 °C
  • Ankara 19 °C

Eurozone growth forecast falls due to COVID-19 outbreak

Eurozone growth forecast falls due to COVID-19 outbreak
Growth is expected to regain traction over the medium term, says head of European Central Bank

By Tuba Sahin

ANKARA (AA) – The head of the European Central Bank (ECB) announced on Thursday that euro area GDP growth is projected to be 0.8% this year and 1.3% in 2021, down from estimates before the global coronavirus outbreak.

"The projections foresee very muted growth in the first half of 2020, followed by an improvement in the second half of the year,” ECB President Christine Lagarde said at a press conference.

The downgraded forecast was due to the potential economic impact of the coronavirus outbreak, she added.

"The disruption of supply chains is impeding production plans in the manufacturing sector, while necessary containment measures against further spread of the coronavirus are adversely affecting economic activity," Lagarde said.

She added that growth was expected to regain traction over the medium term, supported by favorable financing conditions, the euro area fiscal stance, and the expected resumption of global economic activity.

On Thursday, the ECB also kept key interest rates unchanged and announced a new stimulus package to support the euro area financial system.

source: News Feed
This news is a total 23 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim