EU heading for 5-10% economic contraction in 2020
Saturday, 04 25 2020, Category: Economy, Country: Europe
European Union Industry Commissioner Thierry Breton said on Friday the EU was heading this year towards a 5-10% economic contraction due to the new coronavirus outbreak.
“As of today, in the European Union, we’re on course for a 5% to 10% (recession), meaning it’s about 7.5%. But that is today, and if things don’t improve and if we have a second peak (of the outbreak), things could get worse”, Breton said on France 2 television.