EU forecast: The EU economy is recovering faster from the recession caused by the pandemic

By: Trademagazin editor Date: 2021. 11. 11. 11:05

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The EU economy is recovering faster than expected from the recession caused by the coronavirus pandemic; – said the European Commission in its autumn economic forecast published on Thursday.

European Commission expects strong economic growth from EU economy

Economic Policy Commissioner Paolo Gentiloni said about the forecast: growth resumed in the spring as vaccination campaigns against the coronavirus progressed and epidemiological restrictions lifted, and continued unabated in the summer.

The growth rate of the euro area economy will be the same as in the EU this year and next, but will slow to 2.4 percent in 2023. It depends on the evolution of the pandemic, as well as the pace at which supply is able to adapt to growing demand following reopening, he added. (MTI)