Euro zone growth forecasts lowered as coronavirus restrictions drag – CNBC
LONDON The European Commission has turned more negative on its prospects for the euro zone’s economy, projecting a lower growth rate for the region in 2021 as governments grapple with new variants of coronavirus.
The Brussels-based institution expects the 19-member region to grow by 3.8% this year. In November, it had forecast a 4.2% GDP (gross domestic product) rate for 2021.
The latest forecasts come at a tricky time for the European Union as its Covid vaccine rollout faces issues around production,…