“After years of disappointing results, in 2006 the economy of the EU should register the best results since the beginning of the decade and in 2007 and 2008 should grow at a rate close to its potential. That shows the advantages of the economic reforms and the improvements of public accounts and should encourage member states to progress along this road, the only one that leads to stronger and lasting economic growth and a growth in employment”, declared the Eu Commissioner for Economic and Financial Affairs Joaquìn Almunia in commenting to the press on the autumn economic forecasts published by the Executive: 2.8% growth for the Eu-25 for 2006, 2.6% for the Euro Zone, a clear increase over the forecasts of twelve and six months ago. This upward revision of the forecasts is essentially due to the growth of GDP (0.8% in the first quarter of 2006 and 0.9% in the second) in all Eu countries, accompanied by growth in employment and improvements in most public accounts. Simultaneously, the fall in inflation (a rate lower than 2% is forecast for 2008), deficit and unemployment have generated, and will generate, the growth of domestic demand. However optimistic, the 2006-2008 forecasts remain subject however to two variables: geopolitical tensions and consequent growth in the price of petrol and energy.
