Commission revises its previous forecasts because the lifting of Covid-19 lockdown measures moving less swiftly than hopedBrussels — The eurozone economy will drop deeper into recession in 2020 and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the Covid-19 pandemic.
The commission said it had to revise its previous forecasts because the lifting of Covid-19 lockdown measures in eurozone countries was proceeding less swiftly than it had initially predicted. The new figures indicate an economic recovery gathering momentum in June, though it is based on a number of “critical” assumptions.
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