“Great confinement” causes recession of 8% in Portugal and 7.5% in the Eurozone
It is very likely that the global economy will have the worst recession since the Great Depression this year, surpassing the financial crisis ten years ago. “The warning from the International Monetary Fund (IMF) could not be clearer: difficult days are coming. The warning is stamped in numbers: in Portugal the recession will be 8%, the same amount predicted for Spain. Italy will fall 9.1%. Germany’s economy will lose 7%, while the French will shrink 8.2%. In Greece, the drop reaches double digits: it will reach 10%.
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