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--IMF See Eurozone '17 Annual Growth At 2.1%, Above April 1.7% Fcast
LONDON (MNI) - The Eurozone recovery is set to accelerate both this year
and next, helped by a weak euro and low interest rates, outpacing forecasts made
earlier in the year, the International Monetary Fund said Tuesday.
In its World Economic Outlook, the Fund forecast that the euro-area economy
will grow by 2.1% this year and 1.9% in 2018. That compares with a January
forecast of 1.7% and 1.6% respectively in the April WEO Outlook.
"The increase in growth in 2017 mostly reflects an acceleration in exports
in the context of the broader pickup in global trade and continued strength in
domestic demand growth supported by accommodative financial conditions amid
diminished political risk and policy uncertainty," the IMF said.
"The medium-term outlook for the euro area remains subdued because
projected potential growth is held back by weak productivity, adverse
demographics and in some countries, a public and private debt overhang," the IMF
--MNI London Bureau; tel: +44 203-586-2225; email: email@example.com