Brussels sees a slight increase in the growth of the European economy

Forecasts released today

The European Commission today revised slightly upwards the projections for the performance of the European economy this year, now estimating that GDP will grow by 0,9% in the euro zone and 0,8% in the European Union, when in the autumn it predicted 0,3% in both the cases.

In the winter economic forecasts released today, the community executive points out that «almost a year after Russia launched its war of aggression against Ukraine, the EU economy entered 2023 in a better position than that projected in the autumn», last November, with Brussels now estimating that both areas «narrowly avoid the technical recession that was anticipated towards the turn of the year».

In view of the more positive than expected performance of the European economy in the last quarter of last year, the Commission therefore improves the growth projections for Gross Domestic Product (GDP) in the single currency area and in the Member States as a whole by 0,6 and 0,5 percentage points, respectively, but for 2024 it maintained the growth forecasts it had advanced three months ago, anticipating growth of 1,8% in the euro zone and 1,6% in the EU.