Search

04 Jul 2022

Euro 'bouncing back strongly' after shutdowns, says Minister for Finance

Euro 'bouncing back strongly' after shutdowns, says Minister for Finance

Euro 'bouncing back strongly' after shutdowns, says Minister for Finance

The Minister for Finance has said the euro area economy is "bouncing back strongly" after the shutdowns during the Covid-19 pandemic. 

Paschal Donohoe made the comments yesterday after flying to Luxembourg to chair a meeting of the eurozone's finance ministers. Minister Donohoe, who is also the president of the Eurogroup, said the continued policy support, growth, and recovery funding is the "best medicine there is" to help firms and households recover from the crisis. 

He said recovery funding is important for healing European economies after Covid-19, but that it is also "critical" for addressing long-standing reform and investment priorities in both country-specific and euro area recommendations. 

According to Eurostat, percentage of GDP during 2020 across the EU was -6.0, but the forecast for 2021 and 2022 is 4.8 and 4.5 respectively. 

Ireland currently has the second highest GDP percentage across the EU at 7.2%, with Romania taking the top spot with 7.4%. 

To continue reading this article for FREE,
please kindly register and/or log in.


Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.