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EU raises 2015 economic growth forecasts for eurozone

by ChemOrbis Editorial Team -
  • 05/05/2015 (17:26)
According to media reports, the European Union (EU) has raised their economic growth forecasts for the eurozone, citing lower oil prices, a weaker euro and the European Central Bank’s (ECB) stimulus measures as the main reasons behind their upwardly revised forecasts.

According to the EU, the region’s gross domestic product will grow 1.5% in 2015 compared with their most recent forecast of 1.3% in February. The fastest growing economies are expected to be Spain and Ireland. Among the region’s leading economies, Germany’s economy will grow 1.9%, up from the EU’s latest projection of 1.5%.

However, the EU cut their growth forecast for Greece from 2.5% to 0.5% for 2015.
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