EU economy forecast to rebound faster thanks to Covid vaccine
- Date: 12-May-2021
- Source: The Guardian
- Sector:Economy
- Country:Middle East
EU economy forecast to rebound faster thanks to Covid vaccine
The economy of the EU will bounce back more quickly than expected, due in part to the quickening pace of its vaccination programme after a “slow start”, the European Commission has forecast.
The brighter outlook from Brussels also takes into account payouts from the EU’s €800bn recovery package and a sharper than predicted rebound in global trade and activity, largely driven by the performances of the US and China.
The commission forecast EU’s GDP would grow by 4.2% in 2021 and by 4.4% in 2022, compared with a prediction in February of 3.7% and 3.9%. The eurozone’s GDP is forecast to grow by 4.3% and 4.4%, respectively.
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