There is much that can be done to support the sustained and sustainable growth of the European economy, European Commissioner for Economic Affairs Paolo Gentiloni said on Monday.
“We must have confidence and trust in the future of the European economy,” said Gentiloni, presenting the Summer 2023 Economic Forecast in Brussels.
“The effective implementation of national recovery and resilience plans remains a key priority,” he continued, also encouraging the pursuit of “prudent and investment-friendly fiscal policies”, in line with the “ongoing efforts of our central banks to tame inflation”.
The updated economic forecast revises growth in the EU economy down to 0.8% in 2023, from 1% projected in the Spring Forecast, and to 1.4% in 2024, from 1.7%.
It also revises growth in the euro area down to 0.8% in 2023 (from 1.1%) and to 1.3% in 2024 (from 1.6%). (ANSA).
Source: Ansa News Agency (ANA)