Eurozone is set to undergo an even deeper recession due to the coronavirus pandemic despite measures taken at both EU and national levels, the European Commission said in its Summer Forecast released Tuesday.
The currency bloc is forecast to contract 8.7 percent in 2020 instead of 7.7 percent projected in the Spring Forecast. Nonetheless, the region is forecast to grow 6.1 percent in 2021, which was slightly less robust than the 6.3 percent expansion projected previously.
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