Slow economic recovery may start in Europe in the second part of this year

The European Union’s economy is currently in a mild recession, but in the second half the slow recovery from the crisis is expected to begin – projects the European Commission in its spring economic forecast published on Friday.

The report pointed out that Europe's economic performance declined at the end of last year. While there is still a great uncertainty can be experienced in the economic and financial prospects, thank to the EU’s strong policy steps, and due to the significant developments of EU’s institutional, financial market tensions have easened during the spring and the further strenghtening of confidence is expected in the future. (MTI)