In my remarks this morning I would like to explain how the ECB has responded to these challenges, and how our response is contributing to mitigating the economic and financial fallout from the pandemic, supporting firms and households in the entire euro area.
During the fourth quarter of 2021, the economy grew 7.7 percent, bringing the full-year growth to 5.6 percent. The economy’s growth trajectory may further improve due to the projected expansion of exports in 2022. Goods exports grew by 16.0 percent in the first three quarters of 2021.