European Economic Forecast. Winter 2021

Summary:

The European Commission published on 11 February 2020 its Winter (interim) economic forecast for the European Union (EU) and the Eurozone.

Further information:

Europe remains in the grip of the coronavirus pandemic. The resurgence in the number of cases, together with the appearance of new, more contagious strains of the coronavirus, have forced many Member States to reintroduce or tighten containment measures. At the same time, the start of vaccination programmes throughout the EU provides grounds for cautious optimism.

The Winter 2021 Economic Forecast projects the Euro Area economy to grow by 3.8% in both 2021 and 2022. The forecast projects that the EU economy is to grow by 3.7% in 2021 and 3.9% in 2022. The Eurozone and wider European Union economies are expected to reach their pre-crisis levels of output earlier than anticipated in the previous Economic Forecast, largely because of the stronger than expected growth momentum projected in the second half of 2021 and in 2022.

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• Alternative Source

News

The Sofia Globe, 11/02/2021: EU winter economic forecast raises Bulgaria 2021 growth estimate to 2.7% https://sofiaglobe.com/2021/02/11/eu-winter-economic-forecast-raises-bulgaria-2021-growth-estimate-to-2-7/

ERR News, 11/02/2021: European Commission forecasts Estonia 2021 economic growth at 2.6 percent https://news.err.ee/1608105673/european-commission-forecasts-estonia-2021-economic-growth-at-2-6-percent

Kathimerini, 11/02/2021: Greek economy shrank 10 pct in 2020, EU report shows https://www.ekathimerini.com/262269/article/ekathimerini/business/greek-economy-shrank-10-pct-in-2020-eu-report-shows

Euronews, 11/02/2021: Economic forecast: Some EU countries will recover in 2021, others must wait until 2022 https://www.euronews.com/2021/02/11/economic-forecast-some-eu-countries-will-recover-in-2021-others-must-wait-until-2022

The Irish Times, 11/02/2021: Ireland only EU economy to grow in 2020 https://www.irishtimes.com/business/economy/ireland-only-eu-economy-to-grow-in-2020-1.4482192

Reuters, 11/02/2021: Euro zone growth in 2021 to rebound less than expected https://www.reuters.com/article/idINKBN2AB10P

RTÉ News, 11/02/2021: Euro zone growth in 2021 to rebound less than expected https://www.rte.ie/news/business/2021/0211/1196458-euro-zone-economy/

The Guardian, 11/02/2021: Brexit cost will be four times greater for UK than EU, Brussels forecasts https://www.theguardian.com/politics/2021/feb/11/brexit-to-cost-four-times-worse-for-uk-than-eu-brussels-forecasts

Cyprus Mail, 12/02/2021: EU, Cyprus economies suffer a winter of discontent https://cyprus-mail.com/2021/02/12/cyprus-economy-slows-eu/

EUObserver, 12/02/2021: EU sees stronger recovery - if vaccine roll-out works https://euobserver.com/economic/150903

El País, 12/02/2021: Brussels raises Spain’s growth forecast but warns of wave of insolvencies https://english.elpais.com/economy_and_business/2021-02-12/brussels-raises-spains-growth-forecast-but-warns-of-wave-of-insolvencies.html

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Official

European Commission: Economic Forecasts: Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/winter-2021-economic-forecast-challenging-winter-light-end-tunnel_en

European Commission: Press Release, 11/02/2021: Winter 2021 Economic Forecast: A challenging winter, but light at the end of the tunnel https://ec.europa.eu/commission/presscorner/detail/en/ip_21_504

European Commission: Remarks by Commissioner Gentiloni at the press conference on the Winter 2021 Economic Forecast (11 February 2021) https://ec.europa.eu/commission/presscorner/detail/en/speech_21_541

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