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Economy: EU forecasts, growth is back “but we’re sailing in troubled waters”

Il commissario europeo Pierre Moscovici

(Brussels) – The economies of all member states of the European Union grew in 2016 and are expected to keep growing in 2017 and 2018. But, because of uncertainties on the international scenario and a number of domestic factors, “we’re sailing in troubled waters”. This has been shown by the Winter Economic Forecast, presented in Brussels today by the Economy Commissioner, Pierre Moscovici. “After proving it could respond to global challenges last year, Europe’s economic recovery is expected to continue this year and next year”, it reads. “For the first time in nearly ten years, the economies of all the member states are expected to grow all through the forecasted period (2016-18)”. However, “prospects are enshrouded in a thicker uncertainty than usual”. In the euro-zone, the real GDP has grown for three quarters on end, employment “is increasing at a fast pace” – but not in all countries –, and unemployment is decreasing, “even if it is still above pre-crisis levels”. Private consumption is still the driver of recovery and investments keep growing, “though still moderately”. The expected growth of the GDP in the euro-zone should be 1.6% in 2017 and 1.8% in 2018, slightly higher than the one forecasted in Autumn (1.5% in 2017 and 1.7% in 2018), because of better than expected results in the second half of 2016 “and a fairly energetic early 2017”. Across the EU, the growth of the GDP should be about 1.8% this year and next year.



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