The Eurozone economy It could grow 4.8% this year, after dropping 7.2% in 2020, according to projections Rating agency S&PIt shows More optimistic about the recovery in SpainIt expects a 6.5% advance after last year’s 11.3% collapse. “All conditions are in place for a strong recovery,” the company’s chief economist told Europe. Sylvan Brewer.
Broyer highlighted that at a press conference yesterday The economic impact of the movement restrictions Is going on now Less than in the first wave of the Coronavirus; Financial conditions are “extremely” favorable; And that economic policy in the European Union is more coordinated than it has been in the past.
Countries where the decline in GDP was most pronounced last year will see the biggest recovery, according to the S&P scenario. Spain is the most significant case, with the previously mentioned rise of 6.5% this year and the next 6.4%
In the other large member states of the eurozone, GDP will recover by a factor of Germany 3.7% in 2021 and 3.2% in 2022 after declining by 5.6% in 2020; 6.2% and 4.4% in France, Respectively, after a decrease of 9%; And 5.3%, and 3.2% in ItalyAfter an 8.7% decline in 2020.
Whatever the case, Eurozone GDP It will not restore its level before the outbreak of the health crisis until the second quarter of 2022, and The unemployment It will remain higher than it was at that time until the last quarter of 2023.
Also in Europe, but outside the European Union, S&P estimates that United kingdomWhich suffered an 11% GDP collapse last year, will rise 6% this year and 5% next.
at United StateWhere the recession has been somewhat limited (3.9%), expansion will reach 4.2% in 2021 and 3% in 2022. The first global economy will return to the level it was before the crisis in the third quarter of this year.
About ChinaIts recovery began in the second quarter of 2020, the year that ended with a 2.1% GDP increase, which will rise to 7% in 2021 and 5% in 2022.
However, in Latin America Things are very different. It is the world region hardest hit by the Coronavirus crisis, as its GDP fell 7.3% last year, which was 4.7% last year. Brazil, 6.4% in Chile, From 7.8% in Colombia, 9.3% in Mexico And up to 11.7% in Argentina.
S&P believes that this continent as a whole will grow by 3.8% in 2021, down 3.2% in Brazil, 3.9% in Mexico, 4% in Argentina, 5.1% in Colombia and 5.2% in Chile.