EC to publish autumn economic forecast Thursday

 The European Commission will present its autumn economic forecast, including information on GDP, inflation, employment, budget deficit and public debt in the member states, membership candidates and the European Union's main trading partners, on Thursday.

The forecast for 2015, 2016 and 2017 will be presented in Brussels by the Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici.

The European Commission publishes short-term macroeconomic forecasts three times a year, in spring, autumn and winter, which are used in monitoring the economic policies of the member states.

In the previous forecast, released on May 5, the Commission revised upward its growth projection for Croatia from 0.2% given in the February 5 report to 0.3% in 2015, and from 1.0% to 1.2% in 2016, indicating that Croatia has begun to recover after six years of recession.

According to the spring forecast, all member states were expected to see growth, except Cyprus which was projected to record a decline of 0.5%. The lowest growth rates, of 0.3%, were forecast for Croatia and Finland, while the highest rates, of 3.6%, were expected in Ireland and Malta.

The Croatian National Bank (HNB) has said in a recent report that growth in Croatia has intensified, especially in the second quarter of this year. The central bank expects the national economy to grow at a rate of 1.2% in 2015, compared with an earlier projection of 0.5%. In 2016 it expects a growth rate of 1.5%, as against its previous forecast of 0.9%.

Last update: Tue, 08/12/2015 - 12:32

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