the economy of euro area will grow faster this year than previously expected as it recovers from the recession caused by the pandemic, and will continue to expand with force in 2022, projected the European Commission on Thursday (11).
The Commission said that the Gross Domestic Product (START) of the 19 countries that use the euro will grow 5% this year after a 6.4% recession in 2020.
It also projected an expansion of 4.3% in 2022 and 2.4% in 2023. In May, the estimate was for a growth in 2021 of only 4.3%.
“Our measures to contain the impact of the pandemic and increase vaccination in the European Union clearly contributed to this success”, said Vice President of the European Commission, Valdis Dombrovskis.
The Commission stated that inflation will reach 2.4% in 2021, from 0.3% in 2020, decelerating to 2.2% in 2022 and 1.4% in 2023.
The spike in prices is expected to peak in the last four months of this year, and then it will gradually weaken through 2022.
Reference: CNN Brasil
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