The recession in this country will be the smallest in the entire European Union
European Commission has published ForecastAccording to which this year the Polish economy will survive the most insignificant recession in the European Union due to the coronovirus epidemic.
Therefore, in 2020, the Polish economy will shrink by 4.6%. Although the decline in dynamics would be slightly larger than the Brussels analysts predicted in the spring (they had then forecast forecasts at 4.3%), the recession in Poland would be the smallest in the entire European Union. Compared to other countries, the economic situation in Poland is relatively optimistic.
“The Polish economy showed relative stability in the first quarter, mainly due to lower levels on the affected areas and lower economic structure,” the forecast said.
Eurozone GDP is expected to fall 8.7% this year.
Inflation in the euro area is now estimated at 0.3% in 2020 and 1.1% in 2021. For the European Union, inflation is estimated at 0.6% in 2020 and 1.3% in 2021.
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Earlier, the head of the European Central Bank (ECB) Christine Lagarde said that the economic crisis caused by the epidemic of coronovirus infection would lead to profound changes in the global economy. According to him, changes in digitalization and automation will accelerate, the supply chain will become smaller and the industry will become more environmentally friendly.
Read: How developing countries fight coronacrosis – IMF data
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According to the material “Economic reality”