The International Monetary Fund (IMF) called the estimated deadlines for the economic economy to the pre-crisis level, writes CNBC. According to the organization, this will happen already in 2022.
The updated IMF forecast provides for the growth of the European economy by 4.5 percent of 2021, which is 0.2 percentage points below the previous version.
The deterioration of the forecast is associated with new restrictions that are administered to several European countries at once to combat the proliferation of coronavirus. This in turn postpones the deadlines for the full opening and restoration of the economy of individual countries and the entire European Union as a whole.
The current forecast is based on the assumption that the vaccination from coronavirus will be available and widely conducted from the summer of this year. If this does not happen, the expectations of the IMF will be revised again for the worse.
According to the calculations of the IMF, inflation in the EU at the end of 2021 will grow by 1.1 percentage points – up to 3.1 percent, which will support economic growth. In turn, the European Central Bank expects in the fourth quarter of the year inflation about two percent, which corresponds to the target level.