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EU revises growth forecasts up slightly

EU revises growth forecasts up slightly

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Published : 2014-02-25 21:56
Updated : 2014-02-26 08:55

The European Commission says economic growth this year will be slightly stronger than previously expected as the recovery strengthens.

It said in its spring forecast released Tuesday that the 18-country eurozone's economy is expected to grow by 1.2 percent in 2014 and by 1.8 percent next year. The Commission's last economic forecast in November predicted growth of 0.1 percentage points lower in both years.

The bloc's top economic official, Commissioner Olli Rehn, says the "recovery is gaining ground in Europe.''

The forecast also predicts the wider 28-nation EU which includes members like Britain and Poland that don't use the euro currency will grow by 1.5 percent this year and 2.0 percent next year, also revised upward by 0.1 percentage points each. (AFP)

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