The European Union forecasts a modest economic growth

Despite the drop in oil prices and the relatively weak euro, a moderate economic growth can be expected in all countries of the European Union – according to the autumn forecast of the European Commission that was published on Thursday.

In 2016 and 2017, the positive impact of structural reforms will help further economic growth in some countries, despite the slowdown in world trade and the prevailing geopolitical tensions – the summary of the committee reveals.

For the entire euro zone, the prognosis calculates with a GDP growth of 1.6 percent for 2015 and 1.8 percent for 2016. For 2017, 1.9 percent is expected. In terms of entire European Union, the increase is expected to be 1.9 percent of the GDP this year, 2.0 in 2016 and 2.1 percent in 2017. (MTI)