Despite COVID-19 struggles, European Central Bank (ECB) President Christine Lagarde told CNBC on April 9 that the European Union (EU) will hit its economic stride later in 2021.
Many eurozone countries felt the impact of a third wave of COVID-19 cases. This caused officials to implement another round of shutdowns while other developed economies looked to open back up.
While acknowledging the impact of lockdowns on economic growth, Lagarde expressed optimism for things picking up in the coming months.
“Light is at the end of the tunnel,” Lagarde told CNBC’s Sara Eisen on “Closing Bell.” “We can see it. It’s not yet within touching distance. We still have a few innings to go.”
She added that in the second half of 2021, a recovery should move pretty quickly.