What to expect from Europe’s economic recovery in 2021 ...Middle East

Quartz - Economy
What to expect from Europe’s economic recovery in 2021
source : Quartz ( Middle East ) () 26
The European economy will likely contract by 7% this year—its largest dip since World War II. That’s due to months of lockdowns imposed by governments eager to stop the spread of a virus that has killed close to 376,000 people in Europe in the last year.While there’s no V-shaped recovery in sight, the IMF expects Europe to grow by around 4.7% next year, with much of the growth coming in the second half of 2021 as more people get vaccinated against Covid-19, travel restrictions soften, and grants and loans to fragile economies kick in from the EU’s €750 billion ($920 billion) recovery fund.The assumption underlying many economic models “is that we will reach herd immunity in Europe by the end

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