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%).
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