Lagarde statement: GDP growth will be 8.7% in 2020

President of the ECB, Christine Lagarde explained GDP's grow with -8.7% in 2020. This forecast was made in the baseline scenario.

Image source: facebook.com

On June 4, the President of the European Central Bank (ECB), Christine Lagarde, said that GDP growth in 2020 will be -8.7%. These figures were taken from the baseline scenario.

Earlier, the European Central Bank proposed to increase the amount by 600 billion euros to 1350 billion euros of purchases under Pandemic Emergency Purchase Programme (PEPP). ECB President Christine Lagarde spoke at a press conference with her opinion on the prospects for monetary policy.

Image source: Twitter @ecb

In its analysis, the ECB assumes that overall GDP growth will be at 5.2% in 2021, up from 1.3% in March. The regulator has two different scenarios in store, but for now, the regulator is sticking to the basic scenario.

In the report for 2022, the regulator assumed that GDP growth will be 3.3% against 1.4% in March.

The regulator also noted that it is necessary to reduce the risk that was inherent in the basic scenario.

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Alex has been creating articles for several crypto projects for three years. He is interested in cryptocurrencies and financial markets, more so in cryptocurrencies.