The EU has entered “the deepest economic recession in its history” @EU_Commission has said in latest economic forecasts.
Economic output will collapse in 2020, a cut “far deeper than during the financial crisis in 2009”.
Rebound in 2021 will be uneven.
Economic output will collapse in 2020, a cut “far deeper than during the financial crisis in 2009”.
Rebound in 2021 will be uneven.
@EU_Commission 2020: EU = 7.4% fall in GDP/ Eurozone = 7.7% fall
2021 6.1% growth/ Eurozone 6.3% +
Hardest hit by fall in GDP in 2020 Greece (-9.7%), Italy (-9.5%), Spain (-9.4%) Croatia (-9.1%).
2021 6.1% growth/ Eurozone 6.3% +
Hardest hit by fall in GDP in 2020 Greece (-9.7%), Italy (-9.5%), Spain (-9.4%) Croatia (-9.1%).
@EU_Commission The UK economy will see 8.3% contraction in 2020 and 6% increase in GDP in 2021 *but* 2021 forecast is modelled on the status quo, so could prove way out if UK leaves transition with no deal or thin deal.
EC say status quo purely "technical assumption" not prediction negs
EC say status quo purely "technical assumption" not prediction negs
