EC's spring economic forecasts in line with Government's estimates, FinMin says

European Commission`s spring economic forecasts are largely in line with the government`s estimates and confirm the correctness of its support measures that have been taken for the employees and businesses, Finance Minister Constantinos Petrides has said.

In a written statement, Minister says that the Commission also confirms that the crisis has not yet passed and that the recovery will be difficult and uncertain as uncertain is also the development of the pandemic and the efforts to find the vaccine, which is directly related to the economic consequences.

While the impact of the pandemic on unemployment and business are expected to become apparent by the end of 2021, it becomes necessary to continue a sound and prudent management of economic policy at the national level, he said.


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