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Presenting the European economic forecast for Spring 2021, Eric Manner, EU Commission’s Chief Spokesman, said that “after a long winter, the Spring #ECforecast shows positive news on the growth outlook.”

Key takeaways

“Eurozone 2021 GDP growth forecast raised to 4.3% from 3.8% previously.”

“Eurozone 2022 GDP growth forecast raised to 4.4% from 3.8% previously.”

“Eurozone 2021 inflation seen at 1.7%.”

“Eurozone 2022 inflation seen at 1.3%.”

“Euro area economic output to reach pre-virus levels in Q4, sooner than expected.”

“Sees all EU economies returning to pre-virus GDP by the end of 2022.”

“Upward revisions mainly due to national recovery plans. “

“Risks to the outlook remain high, broadly balanced.”

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