Eurozone GDP to See 7.7% Decrease in 2020 Amid COVID-19 Pandemic

The European Commission downgraded its forecast on Germany's GDP dynamics in 2020. It now expects the country's GDP to fall by 6.5 percent instead of growing by 1 percent, as it was forecast earlier.

The GDPs of Greece, Spain and Italy will see the sharpest decline in the eurozone in 2020, decreasing by over 9 percent, the European Commission said.