Accessible summary : Euro area economy now recovering quickly, but after-effects of COVID-19 crisis still visible

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Title: Accessible summary : Euro area economy now recovering quickly, but after-effects of COVID-19 crisis still visible
Organization: Bank of Finland
Series: Bank of Finland. Bulletin
Series number: 4/2021
Year of publication: 2021
Publication date: 12.10.2021
Pages: 5
Subject (yso): pandemiat; euroalue; kansainvälinen talous
Keywords: COVID-19; korona; koronapandemia; koronavirus; maailmantalous; elpyminen
Other keywords: COVID-19 pandemic; COVID-19 virus; recovery; global economy; euro area
Abstract: The global economy is recovering from the COVID-19 pandemic with the support of vaccines and economic policy. Inflation, or the increase in the general level of prices for goods and services, has accelerated globally as the economy has recovered. The increase in the pace of inflation will, however, begin to flatten out next year. The economy has recovered more rapidly in the United States than in the euro area. Forecasts suggest the euro area economy will reach its pre-crisis level towards the end of the current year. Central banks and governments in different countries have supported the economy in a variety of ways during the crisis. These stimulus measures have accelerated the economic recovery, but many countries have become heavily indebted during the pandemic. Reducing the debt burden is actually the next long-term economic challenge.
Note: The accessible version: https://www.bofbulletin.fi/en/2021/4/accessible-summary-euro-area-economy-now-recovering-quickly-but-after-effects-of-covid-19-crisis-still-visible/
Link: http://www.bofbulletin.fi/
Rights: https://helda.helsinki.fi/bof/copyright


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