The European economy is down 7.4% in 2020

The European economy declined by 7.4% in 2020 due to the Corona pandemic, according to the European Commission.

But she returned to expect that the European economy will grow by 3.7% in 2021 and 3.8% in 2022.

and according to Arabnet, citing a study that the European Union economy is vulnerable to a potential blow this year, costing 90 billion euros ($ 108.19 billion), unless it catches up with the rate of protective vaccinations. COVID-19 in other regions.

European Union governments are being criticized for the slow start of vaccinations by the bloc, and critics point to progress made in Britain and the United States as evidence of the failure of Brussels and others in planning.

According to the study prepared by Allianz Insurance Group and Euler Hermes Credit Insurance and reviewed by Reuters prior to publication, achieving the goal of immunity for 70% of adults by summer requires the Federation to accelerate The European vaccination rate is 6-fold.

The study adds that the longer it takes to vaccinate Europeans, the longer the restrictions and measures to isolate the economy will be obstructed.

She says that one euro spent on speeding up vaccinations could spare (the Union) 4 times its losses.

Euro-zone inflation is returning to positive rates

In a related context, consumer goods prices rose in the euro area during January for the first time since July, driven by rising costs in Germany, the largest economy in Europe.

The Eurostat statistics office stated that inflation in 19 countries that use the euro reached 0.9% at the beginning of 2021, a big jump from the negative rate of 0.3% in the previous month.