European Central Bank President Christine Lagarde said that Europe's recovery from the recession caused by the Covid-19 pandemic will be delayed a bit, but should gain momentum in the middle of the year.
"We expect the recovery to gain momentum around the middle of the year, even if the uncertainty continues .. Let's be clear: we will not see a return to pre-pandemic levels of economic activity," Lagarde said. Before mid-2022.
and she said that the plan must be approved in time so that the European Commission borrows as scheduled in next June and then distributes the funds. Lagarde called on the political leadership in Europe to ratify the fund. An unprecedented economic recovery of 750 billion euros ($ 903 billion).
It is noteworthy that, with the eurozone countries closing their economies to curb the spread of the new Corona virus, the region’s economy contracted in the last quarter of the year and there is a clear possibility that it will witness a new contraction in the months The first three of 2021, with the continued closure of most of the services sector.
