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#Winter2020EconomicForecast – Offsetting forces confirm subdued growth : EU Reporter China

#Winter2020EconomicForecast – Offsetting forces confirm subdued growth

| February 14, 2020 | 0 Comments

By EU Reporter Correspondent

The Winter 2020 Economic Forecast published on 13 February projects that the European economy is set to continue on a path of steady, moderate growth. The euro area has now enjoyed its longest period of sustained growth since the euro was introduced in 1999.

The forecast projects that eurozone gross domestic product (GDP) growth will remain stable at 1.2% in 2020 and 2021. For the EU as a whole, growth is forecast to ease marginally to 1.4% in 2020 and 2021, down from 1.5% in 2019.

An Economy that Works for People Executive Vice President Valdis Dombrovskis said: “Despite a challenging environment, the European economy remains on a steady path, with continued job creation and wage growth. But we should be mindful of potential risks on the horizon: a more volatile geopolitical landscape coupled with trade uncertainties. So Member States should use this weather window to pursue structural reforms to boost growth and productivity. Countries with high public debt should also shore up their defences by pursuing prudent fiscal policies.�

Economy Commissioner Paolo Gentiloni said: “The outlook for Europe’s economy is for stable, albeit subdued growth over the coming two years. This will prolong the longest period of expansion since the launch of the euro in 1999, with corresponding good news on the jobs front. We’ve also seen encouraging developments in terms of reduced trade tensions and the avoidance of a no-deal Brexit. But we still face significant policy uncertainty, which casts a shadow over manufacturing. As for the coronavirus, it is too soon to evaluate the extent of its negative economic impact.â€�

Full press release

Full document:Â Winter 2019 Economic Forecast

Source:: EU Reporter Feed

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