EU Commission Forecasts Budget Surplus, Lower Public Debt and Unemployment in Greece
The euro area economy is set to grow at its fastest pace in a decade this year, with real GDP growth forecast to reach 2.2%, according to the European Commission's Autumn 2017 Economic Forecast. This is substantially higher than that expected in the spring forecast for 2017 (1.7%).
The EU economy as a whole is also forecast to beat expectations and attain robust growth rates of 2.3% this year (up from growth forecasts of 1.9% in the spring).
Greece’s economy is growing again, and the recovery is expected to strengthen as investment rebounds and consumption growth rises. The labour market is recovering fast and unemployment is expected to decline further, although average wages may increase only gradually. Public finances remain on track to meet the primary surplus targets agreed under the ESM programme.
ANA-MPA