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The European Commission expects the eurozone economy to grow by 5% in 2021, 4.3% in 2022, and 2.5% in 2023.
According to the Commission, the labor market in the euro area is witnessing a remarkable improvement with the creation of 1.5 million new jobs, and the labor market will complete the journey of recovery in 2022.
The Commission believes that higher energy prices are putting pressure on personal spending and investment
It is also expected that the current account surplus in the euro area would rise to 3.2% in 2023 from 2.7% in 2020
“EU Commission raises eurozone GDP growth forecast for 2021 to 5.0% from 4.3%, expects 4.3% growth in 2022, 2.4% in 2023.”
“EU Commission forecasts eurozone aggregate budget deficit at 7.1% of GDP in 2021, 3.9% in 2022, 2.4% in 2023.”
“EU Commission forecasts eurozone aggregate public debt at 100% of GDP in 2021, 97.9% in 2022, 97.0% in 2023.”
