European economy recovering faster than expected: forecast Xinhua | Updated: 2021-07-08 09:57 EU Commissioner for Economy Paolo Gentiloni speaks during a news conference on the European Semester Spring Package in Brussels, Belgium, June 2, 2021. [Photo/Agencies] BRUSSELS - The European economy is recovering better than previously expected, thanks to the roll-out of vaccination campaigns and effective containment measures, said European Commissioner for Economy Paolo Gentiloni on Wednesday. The economic growth in the European Union (EU) and in the eurozone would expand by 4.8 percent this year, and by 4.5 percent in 2022, according to the Summer 2021 Economic Forecast, presented by Gentiloni at a press conference.