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Added on the 12/11/2021 18:43:03 - Copyright : Euronews EN
EU economic affairs commissioner Paolo Gentiloni says that the bloc has increased its growth forecast for 2021, as the eurozone economy holds strong against higher energy prices, supply chain bottlenecks and a fresh wave of Covid cases. SOUNDBITE
Paolo Gentiloni, European Commissioner for Economy, revises the eurozone's 2021 growth forecast "markedly" to 4.8 percent. Brussels had been expecting a 4.3 percent growth rate as the single-currency area recovers from the effects of the coronavirus pandemic and associated lockdowns. SOUNDBITE
EU Commissionner for Economy Paolo Gentiloni says the EU sharply revised its growth forecasts for this year and next, saying an accelerated vaccination drive and the bloc's landmark recovery plan will lift Europe out of recession. SOUNDBITE
The OECD raises its global economic growth forecast for 2024, driven by strong performances in the United States and emerging countries while Europe lags behind. The US economy -- the world's biggest -- is now expected to expand 2.6 percent in 2024, up from the 2.1 percent previously expected. But the OECD expects timid growth of 0.7 percent in the eurozone, slightly better than the 0.6 percent previously expected. SOUNDBITE
The EU sharply cut its eurozone growth forecast for 2024, Commissioner for the Economy Paolo Gentiloni says. Gentiloni says the European Commission predicts the single-currency economic area to grow by 0.8 percent in 2024, down from a previous forecast of 1.2 percent. SOUNDBITE
The European Commission cut its 2023 and 2024 eurozone economic growth forecasts, with the single currency area weighed down by Germany's poor performance. "The EU GDP growth for 2023 is now estimated at 0.8%, which is 0.2 percentage points lower than projected in spring," says Paolo Gentiloni, the European Commissioner for Economy. SOUNDBITE
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