The IMF has named the expected time frame for the recovery of the European economy to pre-crisis levels. According to the organization, it will happen in 2022.

The updated IMF forecast provides for the growth of the European economy by 4.5 percent at the end of 2021, which is 0.2 percentage points lower than the previous version.

The worsening of the forecast is associated with new restrictions that are being imposed by the authorities of several European countries to confront the spread of the coronavirus. This, in turn, postpones the timeline for the full opening and recovery of the economies of individual countries and the entire EU in general.