the ECB raises its forecasts for 2021 and 2022

The Monetary Institute forecasts growth of 4.6% in 2021 and 4.7% in 2022.

The European Central Bank on Thursday significantly raised its GDP growth forecast in the euro area for 2021 and 2022, reflecting a rebound in the economy faster than expected with the decline of the pandemic.

The Monetary Institute forecasts growth of 4.6% in 2021 and 4.7% in 2022, more than the 4.0% and 4.1% forecast in the latest set of projections released in March. For 2023, ECB economists still expect growth of 2.1%.

SEE ALSO – Euro zone: the European Commission significantly raises its growth forecasts for 2021 and 2022

Rising inflation

The ECB has also raised its inflation forecast in the euro area to 1.9% in 2021 and 1.5% in 2022, due to factors “temporary»Linked to the economic recovery and rising energy prices. For 2023, the forecasts remain unchanged, at 1.4%, said the president of the institution Christine Lagarde. Previous March estimates pointed to inflation expected at 1.5% in 2021, 1.2% in 2022, and 1.4% in 2023.

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