Europe, Draghi: "Growth is back, possible increase in GDP estimate to 4.2%"

2021-06-22T09:45:36.160Z

"Vaccination efforts have allowed us to reopen our economies. There is a return to growth. According to the forecasts of the European Commission, the EU's gross domestic product will grow by 4.2% this year. In Italy and Spain , an increase of 4.2% and 5.9% respectively is expected. These forecasts could be revised upwards, with the return of confidence between businesses and households ". Prime Minister Mario Draghi said this when speaking in Barcelona at the Cercle d'Economia. Italy and Spain countries most affected by Covid "The Covid-19 pandemic has hit our lives and our societies in a devastating way. At least 3.8 million people have lost their lives - a fifth of them in Europe. Italy and Spain are among the countries most affected by the pandemic with a combined total of over 200.000 deaths. The uncertainty created by the pandemic, together with the measures taken to contain it, have weighed heavily on the economy. The gross domestic product of the European Union fell by 6.1% - the largest contraction ever recorded. The strongest reduction was recorded in Italy and Spain, where GDP fell by 8.9% and 10.8% respectively. "Thus Prime Minister Mario Draghi speaking at the third day of work of the Cercle d'Economia in Barcelona. There is a return to growth and trust between businesses and families "Vaccination efforts have also allowed us to reopen our economies. There is a return to growth. According to the forecasts of the European Commission, the EU's gross domestic product will grow by 4.2% this year. In Italy and Spain,an increase of 4.2% and 5.9% respectively is expected. These forecasts could be revised upwards, with the return of confidence between businesses and families ", said the Prime Minister, Mario Draghi, speaking at the Cercle d'Economia in Barcelona.