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EU predicts historic recession

International

EU predicts historic recession

Rebecca Noonan
Rebecca Noonan

11:53 6 May 2020


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The EU is predicting a recession of historic proportions this year.

It says the bloc will see its economy contract by 7.5% this year and 6 per cent next year.

The Euro area will see a slightly worse performance.

The EU Spring 2020 forecast, published today, says Irish GDP will contract by 7.9% in 2020 but will grow by 6.1% in 2021.


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