European Commission upgrades GDP growth forecast for Poland

The Brandenburg Gate reflected by a puddle on Pariser Platz Square in Berlin Germany Tuesday Nov. 7 2017

"The euro area economy is on track to grow at its fastest pace in a decade this year, with real GDP growth forecast at 2.2%".

Growth, the commission points out, has already slowed significantly in the United Kingdom in the last couple of years, falling from 2.3% in 2017, to just 1.8% in 2016.

With the growth forecast for 2017 slashed by 0.3 percent, it also expects the United Kingdom economy to only grow marginally over the next two years - by 1.3 percent in 2018 and by 1.1 percent in 2019, the year Brexit is now scheduled to happen. The EU economy as a whole is also set to beat expectations with robust growth of 2.3% this year (up from 1.9% in spring).

Eurozone inflation is also expected to remain broadly flat at 1.5% in 2017, down from a 1.6% forecast previously, decelerating to 1.4% next year before rising marginally to 1.6% in 2019.

EU officials hope the dynamic economy will help ambitious reform drives by European Commission chief Jean-Claude Juncker and French President Emmanuel Macron to deepen economic integretaion in the eurozone.

Germany officially recognizing third gender at birth
The UN believes between 0.05 and 1.7 per cent of the global population is intersex - about the same percentage that have red hair. In 2014, the Australian high court ruled that the government should legally recognize a third gender.

But the report was especially sour for non-euro Britain which saw its growth forecast for 2017 slashed to 1.5 percent. Yet challenges remain in the form of high debt levels and subdued wage increases. High households' indebtedness and increasing debt burdens, could also affect consumption growth.

"The European economy has performed significantly better than expected this year, propelled by resilient private consumption, stronger growth around the world, and falling unemployment", the Commission said in a statement. The economy would slow even further to 1.3 percent in 2018, followed by 1.1 percent in 2019. Positive forces could emerge, however, from diminishing uncertainty and improving sentiment in Europe to stronger global growth. The Commission's autumn forecasts published today in Brussels are similar to those released earlier by the Croatian government, reports Jutarnji List on November 9, 2017. Moreover, there is a risk of a possible under-execution of the public investment budget in 2018, which would hinder overall investment growth as well.

The commission stressed that its analysis of Britain's prospects was based on a "purely technical assumption of status quo" in terms of the UK's relations with the European Union, and did not take into account any possible outcome from negotiations on a future trade deal.

The Commission estimates that the budget deficit this year and next year will be 0.9 percent of GDP, while in 2019 it will be 0.7 percent of GDP.

"This is for forecasting purposes only and has no bearing on the talks underway in the context of the Article 50 process". Monthly government statistics to date suggest that the 2017 general government primary balance target (1.75 pct of GDP in terms of the ESM programme definition) will be met, with the balance of risks tilted to the upside.

Related News:



Most liked

United States aircraft carriers to conduct joint drill in Pacific
The last time three U.S. carrier strike groups exercised together was in 2007, when the Nimitz, along with the John C. Nuclear-armed North Korea has lashed out at the military muscle-flexing, which it calls a rehearsal for invasion.

Roy Halladay's plane captured on cell phone video just before crash
Halladay pitched a ideal game and a no-hitter in his first postseason start in the same year after coming to the Phillies in 2010. Wednesday to talk about former star pitcher Roy Halladay , who passed away Wednesday in a plane crash at 40-years-old.

Five naked people in vehicle crash: The story gets weirder
The woman and child escaped shortly after. "A passerby offered assistance and secured all three in his truck", the release said. That's when the initial suspect vehicle with the alleged kidnappers rammed the truck from behind, which sent it into a ditch.

Lancashire Holdings Limited 6% Potential Decrease Indicated by JP Morgan Cazenove
The Firm operates through subsidiaries, which include South West Water Limited, Bournemouth Water Limited and Viridor Limited. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock.

Key producers depart Universal's Dark Universe with franchise's future in doubt
Universal isn't giving up entirely with its vast library of monsters, which includes Frankenstein , the Wolf Man , Dracula and others.

Minnesota Vikings activate QB Teddy Bridgewater
Zimmer declined to speculate about when Bridgewater might become the starter again. "He's moved well, thrown the ball well". Griffen stretched with the team at the start of practice Wednesday, wearing a stocking cap rather than a helmet.

Users Are Reporting Xbox One X Problems
Some lucky fans were blessed with not only an Xbox One X but an opportunity to challenge each celebrity to a game on the system. But if they simply didn't order enough of the console and went through their supply quickly, that's a bit less impressive.

Texas gunman broke stepson's skull, assaulted wife in troubled life
But most analysts said the law should at least get Kelley's victims, or their survivors, through the courthouse door. Former classmate Nina Rose Vaca told the Dallas Morning News: "He was a little unusual but it was high school".

Tech Giant Apple Reportedly Involved in Paradise Papers Scandal
While the practice is legal, the revelations have wider implications on the way the finances of the rich and famous are handled. The company told the newspaper that it follows all relevant tax regulations and pays its tax in full and on time.

Love ranch dressing? Hidden Valley offers keg of the salad dressing
And for the ultimate ranch fan, there's the Hidden Valley Holiday Ranch Fountain, complete with a skirt. Then, put some ranch on it - a whole keg of it! Hidden Valley has announced a line of holiday gifts .

With Low Turnouts this Election, Why Do You Vote?
The Jefferson County Board of Elections reported higher voter turnout than anticipated on Election Day. Ballots started rolling in as soon as the office opened, until 7 p.m.

Critics carp at 'impatient' Donald Trump on trip to Japan
Similarly, Bloomberg's Jennifer Jacobs said , "Trump spoon feeds koi fish at Akasaka Palace". ABC News' video showed only Trump upending his box of fish food; a CNN video did the same.

Sensex, Nifty end lower; Reliance Industries, Bharti Airtel drag
Foreign portfolio investors (FPIs) bought shares worth a net Rs 576.27 crore yesterday, as per provisional data released by stock exchanges.

Kremlin says "logical" that Putin, Trump will talk at Vietnam summit
It was not immediately clear if the two men would meet privately as they have done several times in the past. The probability for a face-to-face meeting of the two presidents is "quite high", Peskov said.

Uber, NASA Flying Taxis Take Off ... on Drawing Board
But a spokesperson for the mayor said conversations about regulation, environmental effects and zoning had not yet started. Now, the ride-sharing company has taken the next step in the project, teaming up with NASA to help manage the vehicles.