February 5, 2015 14:45 Brussels, February 5 (PL) European Commission (EC) today revised its growth forecasts for the eurozone, considering that the Gross Domestic Product (GDP) will increase 1.3 percent this year, two tenths more than previously expected.
According to the EU executive, strengthening demand and monetary policy influence the expansion of the 19 nations of the common currency, which improved their prospects in five tenths regarding anticipated in late November.
For the whole of the European Union (EU), the entity provides an increase of 1.7 percent, because there will be growth in all economies of the European bloc for the first time since 2007.
EC considers, for example, that Germany’s GDP will expand in 2015 by 1.5 percent instead of 1.1 percent forecast in the fall, similar to the case of France, where the estimates rose from 0.7 one percent.
In turn, Spain will have the greatest progress in the euro area, because the government expects an economic growth of 2.3 percent, 1.8 percent higher than previously estimated.
By 2016 CE optimism is even greater, predicts that Eurozone GDP will grow 1.9, while in the 28 EU countries will advance 2.1 percent.
The economic outlook for Europe today are a bit brighter than when we present our latest forecasts. The drop in oil prices and a cheaper euro are providing a welcome boost to the EU, said the Commissioner for Economic Affairs, Pierre Moscovici.
However, community representative acknowledged that much work remains Hard to do to create jobs, as unemployment is one of the major problems currently facing the block.
At the same time, many experts argue that the strength of the recovery will be low and the rate of modest growth due to the delay in implementing reforms. Also note that the scenario is increasingly uncertain, with low inflation and geopolitical risks that may conspire against those estimates
pgh / sea.
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