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The European Commission released economic forecasts today. The gross domestic product (GDP) will increase 1.6% in the EU and 1.2% in the Eurozone in 2014, climbing to 2.0% and 1.7% respectively in 2015. The inflation in the Eurozone will remain low: 0.8% in 2014 and 1.2% in 2015.
The European Commission predicted the decline of unemployment rate. The unemployment rate will be 11.8% in 2014 and 11.4% in 2015.
The Commission’s forecasts show government debt in the Eurozone will climb to 96% of GDP in 2014, declining to 95.4% of GDP in 2015 (2008: 70.2% of GDP).
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