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The European Commission revised its forecast for the Eurozone

The European Commission raised its forecast for Eurozone GDP growth this year to 1.7% instead of 1.6%.

13.May.17 12:35 PM
By Christina Orlina


The European Commission revised its forecast for the Eurozone
Economic growth in the EU-28 under the revised rating will be 1.9%. The Commission notes that the economic recovery continues for the fifth consecutive year and will remain steady in the current and next year. In the Euro area is expected to decrease unemployment rate to 9.4%.

The European Commissioner for economic and financial Affairs Pierre Moscovici answered the questions of TV channel “Euronews”.

He, in particular, commented on the economic program of the elected President of France Emmanuel Macron: “Algoplast, a common European budget (for investment and measures for protection against unemployment), the Minister of Finance of the Eurozone: all these proposals are aimed at strengthening the Euro area and the reduction of disabilities, and also to create jobs and support economic growth. The macron is in favor of these decisions, but I am sure that he will face opposition”.

The new forecast of the European Commission has revised its estimate of economic growth of Greece downwards to 2.1% in the current year.

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