EU economy to expand, bouncing back from pandemic crisis

The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to regain lost ground by the end of next year

BRUSSELS -- The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to regain the ground lost by the end of next year. In its latest forecast Wednesday, the EU’s executive commission significantly upgraded its predictions for economic growth. It said that growth in the 27-nation bloc is predicted to expand by 4.2% this year, a significant uptick from a February prediction of 3.7%. "Recovery is no longer a mirage. It is under way," said EU Commissioner Paolo Gentiloni. “After a weak start to the year, we project strong growth in both 2021 and 2022.”