The Gunners are languishing in 10th place in the Premier League and saw their defence of the FA Cup end with a fourth-round defeat at Southampton.
Any hopes of silverware and Champions League qualification now all appear to rest on a successful Europa League campaign – with Arsenal preparing for the first leg of their round-of-16 tie against Olympiacos on Thursday night.
The Spaniard, however, feels the future is bright at the Emirates Stadium and things will start to look up in the coming months.
“I think this project is going to go ‘bang’,” he said. “This is where we are, but sometimes it is difficult to see the moment now but I’m sure where we are going.
“We have created a really strong group, a really strong bond with our players, with our fans, with our staff and that is going to pay big in the future.