EU heading for 5-10% economic contraction in 2020-Breton
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TUESDAY, FEBRUARY 07, 2023
EU heading for 5-10% economic contraction in 2020-Breton

Global Economy

Reuters
24 April, 2020, 01:30 pm
Last modified: 24 April, 2020, 01:35 pm

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EU heading for 5-10% economic contraction in 2020-Breton

European Union, we’re on course for a 5% to 10% (recession), meaning it’s about 7.5%

Reuters
24 April, 2020, 01:30 pm
Last modified: 24 April, 2020, 01:35 pm
FILE PHOTO: A European flag is seen outside the EU Commission headquarters in Brussels, Belgium November 6, 2019. REUTERS/Yves Herman
FILE PHOTO: A European flag is seen outside the EU Commission headquarters in Brussels, Belgium November 6, 2019. REUTERS/Yves Herman

European Union Industry Commissioner Thierry Breton said on Friday the EU was heading this year towards a 5-10% economic contraction due to the new coronavirus outbreak.

"As of today, in the European Union, we're on course for a 5% to 10% (recession), meaning it's about 7.5%. But that is today, and if things don't improve and if we have a second peak (of the outbreak), things could get worse", Breton said on France 2 television.

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European Union / Recession / European economy

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