The Diplomat
Spain is the Eurozone country that will experience the greatest growth in its GDP in 2021 but will still be the furthest away from pre-pandemic levels, according to Moody’s estimates.
Specifically, Spain will experience growth of 6 percent, compared to the 4.7 percent average for the euro area. However, it will also be the country furthest away from pre-pandemic levels, having suffered a contraction of 11.4% in 2020, compared to the average of 7.7% in the Eurozone. The large economies of the euro area will have to wait until 2022 to recover their previous levels. The second most distant country after Spain will be France, with estimated growth of 5.3% in 2021 after a fall of 10.2% in 2020.
“France, Italy and Spain will record some of the strongest growth rates, but this largely reflects a ‘mechanical’ rebound after last year’s considerable contractions, and their output will remain well below pre-crisis levels”, said the risk qualifier, quoted by the Europa Press agency.
