IMF: eurozone to return to pre-crisis levels next year

IMF: eurozone to return to pre-crisis levels next year

The International Monetary Fund is sure that the third wave of the coronavirus pandemic will not destroy the hope for the economic rise to the pre-crisis levels in the next year. The extension of numerous containment measures in most European countries should not have a negative impact on economic growth. On the contrary, the decision to keep safety measures may boost the economic revival.

IMF chief economist Gita Gopinath said that in the following year, the pace of the economic growth in the eurozone would return to the pre-crisis levels. Speaking at the World Bank Group/International Monetary Fund 2021 Virtual Spring Meetings, Gita Gopinath emphasized that the eurozone countries were recovering slower than expected after the virus-induced crisis. She also added that the process could hardly be called steady. Some countries have already gained speed, whereas others are just preparing for the acceleration.  In any case, the situation will change for the better next year. “So, you know, it's expected to get back to pre covid levels next year, not this year, next year. Now, different countries will gather in different places. You know, Germany, for instance, in the first half and so on, and Spain actually would come later,” Gita Gopinath said.



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