ECB revises upwards 2017-2019 euro area economic growth forecast

TALLINN, June 8 (Xinhua) — The euro area economic growth forecast was revised upwards and the risks surrounding the growth outlook are considered to be broadly balanced, the European Central Bank (ECB) president said here on Thursday.

“These projections foresee annual real GDP increasing by 1.9 percent in 2017, by 1.8 percent in 2018 and by 1.7 percent in 2019. Compared with the March 2017 ECB staff macroeconomic projections, the outlook for real GDP growth has been revised upwards over the projection horizon,” said ECB President Mario Draghi at a press conference after the governing council meeting.