Virus flareup clouds eurozone near-term economic outlook, Christine Lagarde says

Business | 22 Apr 2021 9:16 pm

European Central Bank president Christine Lagarde has warned that uncertainty over the latest wave of coronavirus disease infections, and Europe’s vaccine rollout, are casting a cloud of uncertainty over the eurozone.

Speaking at a press conference in Frankfurt, she says that the current restrictions imposed to fight the pandemic are hitting economic actitity, The Guardian reports.

“While the recovery in global demand, and the sizeable fiscal stimulus, are supporting global and euroarea activity, the near-term economic outlook remain clouded by uncertainly about the resurgence of the pandemic and the rollout of vaccination campaigns,'' she said.

Persistently high rates of coronavirus infection, and the associated extension and tightening of containment measures, continue to constrain economic activity in the short term.''

Looking ahead, Lagarde adds the ECB expect a “firm rebound” in economic activity in the course of 2021. due to progress with vaccination campaigns and the envisaged gradual relaxation of containment measures.

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