EC expects Greek GDP to drop by 9.7 pct for biggest fall in EU, before strong rebound in 2021

Economy Tags: Covid, Debt, EC, GDP
Photo by MacroPolis
Photo by MacroPolis

The European Commission released today its Spring Economic Forecasts, the first official set of numbers since the pandemic outbreak, which point to the EU economies experiencing “a recession of historic proportions this year.”

Euro area GDP is seen falling by 7.75 pct in 2020 and grow by 6.25 pct next year. The EU economy is expected contract by 7.5 pct and grow by 6 pct in 2021.

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