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Brussels (dpa) - After the severe Corona economic crisis, the EU Commission expects growth again in spring.
Overall, economic output in the eurozone is expected to increase by 3.8 percent this year, and by 3.7 percent in the European Union, according to the economic forecast published on Thursday.
In 2022 there should be another 3.8 percent growth in the 19 countries of the euro zone and 3.9 percent in the 27 EU countries as a whole.
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"Today's forecast offers real hope for all of us at a time of great uncertainty," said Commission Vice-President Valdis Dombrovskis.
With solid growth in the second half of the year, the EU will begin to overcome the crisis.
Economic Commissioner Paolo Gentiloni spoke of the light at the end of the tunnel.
The commission justified its confidence with the start of the vaccination programs against Covid-19.
She sees the conclusion of the Brexit trade pact with Great Britain and the multi-billion Corona development fund that the European Parliament has just passed as positive.
In the first quarter, the Brussels authority still expects extensive everyday restrictions and consequently a decline in economic output.
Recovery will begin in spring and gain momentum in summer, the commission said.
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However, uncertainty remains with regard to the speed of vaccinations and the relaxation of restrictions.
Gentiloni expressed concern about the virus variants and the global infection situation.
The Commission also records possible long-term economic consequences under the risks, such as waves of bankruptcies and job losses.
This would also harm the financial sector, drive up long-term unemployment and exacerbate inequalities, the Commission warned.
In November it was said that growth of 4.2 percent in the euro zone and 4.1 percent in the EU would be achieved in 2021.
For 2022, the numbers were weaker then: 3 percent growth in each case.
The bottom line is that the pre-crisis level will be reached faster than assumed in November, the Commission has now declared.
In November, the EU Commission had also assumed that the economy in the 19 countries of the euro zone would shrink by 7.8 percent in 2020 and by 7.4 percent in the 27 EU countries.
In fact, things got a little less bad.
According to initial estimates by the Eurostat statistics agency, gross domestic product in the euro zone fell by 6.8 percent in 2020, and by 6.4 percent in the EU as a whole.
© dpa-infocom, dpa: 210211-99-396104 / 2