EU autumn economic forecast raises Bulgaria 2015 growth estimate

EU autumn economic forecast raises Bulgaria 2015 growth estimate

Sofia, November 5, 2015/Independent Balkan News Agency

The European Commission’s autumn forecast for the EU economy, released on November 5, raised the economic growth estimate in the 28-country bloc, saying that the economic recovery was resilient and widespread, but slow.

As it did in its previous forecast in spring, the Commission credited low oil prices and the depreciation of the euro, as well as the European Central Bank’s quantitative easing programme for the continued upward trend. As the impact of positive factors was fading, the main challenges for the EU economy included the slowdown in emerging market economies and global trade, as well as persisting geopolitical tensions the Commission said.

The latest report revised the estimated economic growth this year to 1.9 per cent in the EU as a whole and 1.6 per cent in the euro area (both figures were 0.1 per cent higher than the respective forecasts in spring).