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The economy of the European Union in 2020 may decline by 7.5%

The economy of the European Union in 2020 may decline by 7.5%

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Erik Holm - Head of media

Due to the CPVOD-19 coronavirus pandemic, the economy of the European Union is experiencing a situation in which its GDP may decline by 7.5% in 2020, Thierry Breton, member of the European Commission on the EU Internal Market, said on the France 2 television channel. “everything will depend on the speed with which the economy then (after the crisis of COVID-19) recovers", he said. 

A member of the European Commission explained that at the moment this reduction can be estimated "from about 5% to 10%...., that is, about 7.5%". However, according to him, if the situation does not improve and the world has to survive the second peak of the epidemic, then the reduction may be even greater. Anyway, the economy of the European Union, due to the CPVOD-19 coronavirus pandemic, is experiencing a situation on which its GDP could decrease by 7.5% in 2020.