ECB: Eurozone economy will fully recover by end of this year

The economic outlook for the eurozone is still fraught with uncertainty, stemming from supply bottlenecks, surging energy prices, and new waves of the coronavirus pandemic, European Central Bank President Christine Lagarde said at the Central Banking Forum in a video conference, Report informs.

However, she said that the eurozone economy is recovering rapidly and will reach pre-pandemic levels by the end of this year.

"The economic recovery is due to rapid and successful vaccinations. In Europe, 70% of people over the age of 12 have already been inoculated. Several restrictions imposed by the pandemic have been completely removed, leaving only the requirements of social distance and the use of medical masks, Lagarde said.