ECB sees big drop in eurozone's GDP, Italy among worst hit

The European Central Bank (ECB) said Wednesday that Italy was set to be among the hardest hit as it forecast that the eurozone's GDP will drop by 8.7% this year in the wake of the coronavirus emergency.
    The central bank predicted that the area's GDP would bounce back by 5.2% in 2021 and by 3.3% in 2022.
    The ECB added that, in the worst-case scenario, the eurozone's GDP would drop by 12.6%.
    It said that, in addition to Italy, the other countries set to be worst affected are France and Spain.
   

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