ECB lifts eurozone growth forecast for 2023

AFP , Thursday 16 Mar 2023

The European Central Bank on Thursday increased its projection for eurozone GDP growth this year to 1.0 percent due to falling energy prices and greater "resilience to the challenging international environment".

European Central Bank (ECB) President Christine Lagarde speaks during a debate, as part of a plenary session at the European Parliament in Strasbourg, eastern France, on February 15, 2023. AFP


It had previously forecast 0.5 percent growth for this year. "ECB staff then expect growth to pick up further, to 1.6 percent in both 2024 and 2025, underpinned by a robust labour market, improving confidence and a recovery in real incomes," it said.

The outlook for 2024 and 2025 were less rosy than the 1.9 percent and 1.8 percent previously predicted.

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