EU expects recession this year, says Commissioner Thierry Breton.

The European Union will go through a recession this year due to the impact on its economy of the coronavirus health crisis, the EU’s internal market Commissioner Thierry Breton said on Monday, estimating the bloc's economy faces a 2-2.5% hit.

“Obviously we are expecting a recession during the year 2020,” Breton told BFM Business radio.

“Before the crisis we were (expecting) around 1.4% (economic) growth for the whole continent, now we expect a negative impact of between 2% and 2.5%,” he added.

Image: European Parliament.

Follow EU Today on Social media:

EUToday Correspondents

EUToday Correspondents

Our team of independent correspondents, based across Europe and beyond, are at the centre of geopolitical dynamics. We are united by our commitment to free and unbiased journalism, and our devotion to the concept of true and unfettered democracy. We take our job very seriously!

Related posts