The European Commission has worsened the assessment of eurozone GDP growth for 2019 and 2020

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The new forecast of the European Commission suggests that in 2019, the eurozone economy will increase by 1.2%, whereas, according to its February forecast, a rise of 1.3% was expected. The report notes that uncertainty persists in global markets, and this was the main reason for the deterioration of the forecast. The European Commission also downgraded the estimate for eurozone GDP growth for the following year from 1.6% to 1.5%. According to the new forecast, inflation in 2019 and 2020 will not reach the target of the European Central Bank and will be only 1.4%. The growth forecast for EU countries is also downgraded. It is expected that the EU economy this year will grow by 1.4%, and not by 1.5%, as was predicted earlier. In 2020, growth will accelerate to 1.6%, whereas previously a rise of 1.8% was expected. The European Commission considered the main risks for the world economy to be the consequences of protectionist policies in foreign trade, the global slowdown in economic growth and the continuing uncertainty regarding Brexit.

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