13:08 - ECONOMY: EU FORECASTS, POLAND AND GERMANY FINE, GREECE AND SPAIN BAD
(Sir Europe - Brussels) - The reading of Springs Economic Forecasts by the EU Executive suggests there is no major margin for improvement in the employment world. Unemployment is expected to remain high at about 10% in the EU-27 and at 11% in the euro-zone (17 countries that use the single currency). Inflation instead is expected to slowly decrease, as the impact of oil price and tax rises disappears. In addition, budget recovery is expected to go on, with public deficits bound to drop to 3.3% in the EU in 2013 and just below 3% in the euro-zone. However, the continental picture is very uneven: as to Gross Domestic Product, for instance, Germany shows 0.7% per annum in 2012, bound to rise to 1.7% next year; the same applies to France, with 0.5% this year and 1.3% next year; the United Kingdom has 0.5% this year, rising to 1.7 in 2013. This year, Italy has very a negative figure, -1.4%, that is bound to go up to +0.4% next year. However, the most troublesome situations are those of Greece (-4.7% in 2012, 0.0% in 2013) and Spain (-1.8% and -0.3%, respectively). Poland bucks the trend: this years positive 2.7% will be followed by next years 2.6%.