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- Europe: Slow start, but light at the end of the tunnel – Rabobank
Europe: Slow start, but light at the end of the tunnel – Rabobank
FXStreet reports that economists at Rabobank note, the recovery path is lit but the European Union holds the switch.
“The Eurozone contracted by 6.8% in 2020. We forecast the Eurozone economy to grow by 4.0% in 2021, followed by 3.6% in 2022. This means we expect the economy to hit its pre-pandemic level mid-2022. Based on available information we forecast that the EU recovery fund will lift GDP by 0.5% over this and next year combined.
“Economic recovery is very dependent on the roll out of vaccines. The European strategy has not been very successful so far and tensions are rising.”
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