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EU: Economic Forecasts, estimated rise. Moscovici, “the system is in perfect health”

(Brussels) “In this early 2018, European economy looks in excellent health. The euro-zone shows unprecedented growth rates since the financial crisis. Unemployment and deficits keep decreasing, and at last investments are significantly increasing”. This is the very revealing first comment made by Pierre Moscovici, commissioner for economic and financial affairs, as he presents the Interim Economic Forecasts. “In addition, economic growth is more well balanced than it was ten years ago and could even turn out to last longer if we keep making smart reforms and pursuing responsible budget policies”. According to Moscovici, “however, this favourable time for reforms will not last forever: the ambitious decisions that need to be taken to strengthen the Economic and Monetary Union must be taken now”. Current estimates for 2017, which speak of a 2.4% GDP rise, exceed the November estimates that had been made in the Autumn Economic Forecasts, which were 2.2% for the euro-zone and 2.3% for the EU. Even the estimated growth prospects for 2018 and 2019 have been increased from November, both for the economy of the euro-zone and that of the European Union, which have risen from 2.1% to 2.3% for the current year and from 1.9% to 2.0% for 2019, respectively.

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