UniCredit economists forecast an extremely severe downturn in the economy by 2020, due to measures taken in the context of the coronavirus pandemic. At the same time, quick returns are foreshadowed.
“The measures taken to curb the spread of COVID-19 have paralyzed the global economy. While China has now started lifting the restrictions imposed, the rest of the world has not yet flattened the epidemic curve. the measures taken in the US and Europe will be maintained until June. ”said UniCredit economists.
Throughout 2020, gross domestic product is expected to decrease by 13%. The economy is expected to grow by 10% in the 3rd and 4th quarter and also by 10% by 2021. Even if the recovery seems fast, at the end of next year the European economy will be 4% below the level by the end of 2019, according to estimates made by UniCredit.
Almost 1 million people in Romania have becomeunemployed in the last month. Central and Eastern Europe will grow from a 1.8% economic growth in 2019 to a 6.3% decrease this year and a 6% growth in 2021.
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