EC trims 2020 recession forecast to 9 pct, but 2021 recovery also slashed

EconomyMacroeconomy Tags: Covid, EC, GDP

The European Commission slightly revised its forecasts for Greece in the interim Summer forecast released on Tuesday, compared to the Spring forecasts that were released at the beginning of May.

Nevertheless, Greece is expected to experience a sharp contraction of 9 pct in 2020, from 9.7 pct in the spring estimates. This moves the country from the worst-hit economy this year behind Italy, which is now forecast to contract by 11.2 pct is leading...

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