ECB: economic performance in the euro area could reach pre-crisis levels by 2022

According to the most likely scenario, the economic performance of the euro area after the downturn due to the viral outbreak could reach pre-crisis levels by the end of 2022, according to the forecast published on the European Central Bank’s (ECB) website.

The ECB expects three scenarios in its forecast. In the event of a mild crisis, the euro area’s gross domestic product (GDP) could fall by 5 percent, in the event of a moderate course, by 8 percent and, in the worst case scenario, by 12 percent this year. (MTI)