EU Sees Worst Recession On Record This Year On Covid-19
06 Mayo 2020 - 3:14AM
RTTF2
The European Commission on Wednesday downgraded the growth
forecasts for the Eurozone and the European Union and said the
region is set to witness a recession of "historic proportions" this
year due to the "major shock" from the coronavirus, or Covid-19,
pandemic and the consequent lockdown. Eurozone is forecast to
shrink a record 7.75 percent this year, but grow 6.25 percent next
year, the executive arm of the EU said in its Spring 2020 Economic
Forecast. The EU economy is projected to contract 7.5 percent this
year and expand around 6 percent in 2021.
Growth projections for both EU and euro area were revised down
by around nine percentage points from the previous forecast. "This
is a symmetric shock: all EU countries are affected and all are
expected to have a recession this year," Valdis Dombrovskis, EU
vice president for economic affairs, said.
The EU and Member States have already agreed on extraordinary
measures to mitigate the impact and the collective recovery will
depend on continued strong and coordinated responses at EU and
national level, the top official said. "Both the depth of the
recession and the strength of recovery will be uneven, conditioned
by the speed at which lockdowns can be lifted, the importance of
services like tourism in each economy and by each country's
financial resources," Paolo Gentiloni, EU economic affairs
commissioner, said. "Such divergence poses a threat to the single
market and the euro area - yet it can be mitigated through
decisive, joint European action."
The euro area unemployment rate is forecast to climb to 9.5
percent this year from 7.5 percent in 2019. Thereafter, it is seen
easing to 8.5 percent in 2021. In the EU, the unemployment rate is
forecast to rise to 9 percent this year from 6.7 percent in 2019
and then fall to around 8 percent in 2021.
Eurozone inflation is seen at just 0.2 percent this year and at
1.1 percent next year. For the EU, inflation is seen at 0.6 percent
in 2020 and 1.3 percent in 2021.
Exceptional stimulus measures to support the economy during the
pandemic is expected to increase public deficit and debts in the
bloc. The forecast baseline assumes that lockdowns will be
gradually lifted from May onwards, the EU said.
"The risks surrounding this forecast are also exceptionally
large and concentrated on the downside," the EU added. The
commission also warned that "a more severe and longer lasting
pandemic than currently envisaged" could cause a far larger fall in
GDP than projected in the baseline scenario in this forecast. "In
the absence of a strong and timely common recovery strategy at EU
level, there is a risk that the crisis could lead to severe
distortions within the Single Market and to entrenched economic,
financial and social divergences between euro area Member States,"
the commission added.
US Dollar vs CHF (FX:USDCHF)
Gráfica de Divisa
De Mar 2024 a Abr 2024
US Dollar vs CHF (FX:USDCHF)
Gráfica de Divisa
De Abr 2023 a Abr 2024