EU hopes eurozone economy to grow 2pc in 2005

18th April 2005, Comments 0 comments

18 April 2005, MADRID - The EU Economic and Monetary Affairs Commissioner said he expected the eurozone economy to be growing by at least 2 percent at the end of this year.

18 April 2005

MADRID - The EU Economic and Monetary Affairs Commissioner said he expected the eurozone economy to be growing by at least 2 percent at the end of this year.

Joaquin Almunia told the Spanish daily 'La Vanguardia' that data for the first quarter should show a recovery in the eurozone.

In mid-April the European Commission held to its forecast that the eurozone economy would grow by 0.2-0.6 percent in the first quarter of this year and said that there would be a slight acceleration in the second quarter to 0.3-0.7 percent.

Almunia told the newspaper: "Our forecasts show growth which is not so strong as last year but with a rising trend. We estimate that [the eurozone] should grow at a rate of 2 percent or more at the end of 2005."

The commission, in forecasts at the beginning of April, signalled eurozone growth of 1.6 percent for the whole of 2005.

[Copyright EFE with Expatica]

Subject: Spanish news

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