EU economy to expand, bouncing back from pandemic crisis

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BRUSSELS (AP) — The European Union economy is set to bounce back strongly this year after the deep coronavirus recession and member states are forecast to have recouped 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%. EU Commissioner Paolo Gentiloni said that “the shadow of COVID-19 is beginning to lift from Europe’s economy.”  

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