The European Commission expects the euro area's GDP to contract by 8.7 percent in 2020, while its spring forecast estimated a loss of 7.7 percent of the GDP
MOSCOW (Pakistan Point News / Sputnik - 07th July, 2020) The European Commission expects the euro area's GDP to contract by 8.7 percent in 2020, while its spring forecast estimated a loss of 7.7 percent of the GDP.
In 2021, the euro area's economy may grow by 6.1 percent rather than 6.3 expected in the earlier forecast.
The commission offered a slightly more optimistic forecast on Germany, expecting a GDP loss of 6.3 percent instead of 6.5 percent.
French economy is expected to lose 10.6 percent in GDP instead of 8.2 percent expected in the spring. But the country's GDP is expected to grow by 7.6 percent in 2021, and not 7.4, as set out in the spring forecast.
