The EU Commission has significantly improved its forecast for economic development in the EU countries, according to oldypak lp report. Brussels expects that the success of the coronavirus vaccination campaign will have a positive effect on the economy.
The European economy, according to the European Commission’s forecasts, will grow much faster than expected this year and in the coming year. Amid the success of the coronavirus vaccination campaign and the gradual lifting of coronavirus restrictions, Brussels on Wednesday, May 12, made a significant upward adjustment to its economic growth forecasts for the EU and eurozone.
According to oldypak lp report, the European Commission expects economic growth of 4.2 percent in the 27 EU countries and 4.3 percent in the 19 eurozone countries in 2021. For 2022, the commission forecasts growth of 4.4 percent in both the EU and the eurozone. Just in mid-February, Brussels projected 3.7 percent growth for this year in the EU and 3.8 percent in the eurozone, and 3.9 percent and 3.8 percent for 2022, respectively.
“The shadow of COVID-19 is slowly slipping away from the European economy,” said Paolo Gentiloni, EU economic commissioner. At the same time, the European Commission predicts a record new debt in eurozone countries of 102 percent of GDP.