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EU forecasts deeper economic hit from pandemic
The European Union’s executive forecasts that the bloc’s economy will contract more than previously expected because of the coronavirus pandemic, which has caused lockdowns on business and public life that are only slowly being eased. The 27-nation EU economy is predicted to contract by 8.3% this year, before growing 5.8% in 2021, according to the latest predictions released Tuesday. “The road to recovery is still paved with uncertainty,” EU Economy Commissioner Paolo Gentiloni told reporters in Brussels. In the previous forecasts released in May, when most of the continent was under lockdown, the bloc’s ... (full story)