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Economic forecast: Moscovici (EU Commission): “Recovery is here”

Pierre Moscovici, commissario europeo per gli affari economici e finanziari

(Brussels) “We can confirm this: economic recovery is here”, “we have positive data for the third year in a row”, even though “uncertainties remain” on global level. European Economic and Financial Affairs Commissioner Pierre Moscovici illustrates the “Winter Economic Forecast” in Brussels; it is the fundamental document for the EU budget and economic planning. The French commissioner says: “The main points to be communicated are three. The first one is recovery, which will also continue in 2016 and 2017; the second is improvement in the financial statements of Member States; the third is about “greater agreement” amid EU countries’ situations, “though such agreement is not sufficient, yet”. Pursuant to the Forecast, Eurozone GDP will go up 1.6% this year, 1.8% in 2016, and 1.9% in the following year. On the other hand, in 28-country EU growth is slightly higher: +1.9% in 2015, +2.0% next year, and +2.1% in 2017. Moreover, Moscovici speaks about “still moderate recovery”, and recovery at risk with respect to the international scenario, characterised by economic slowdown, in the so-called developing countries, above all.

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