|  2012-12-07

ECB reviews its estimations of economic growth for Euro zone

European Central Bank (ECB) reviews as negative its estimations of economic growth for the Euro zone countries for 2012 and 2013, as stated by Mario Dragi, president of the financial institution.

Euro

For 2012, ECB expects an economic downfall of 0.6 - 0.4 percent for Euro zone, while for the next year, the bank anticipates the overall GDP in Euro zone will vary between a negative 0.9 percent and a growth of 0.3 percent. For 2014, the bank expects a growth between 0.2- 2.2 percent for Euro zone economies, an analysis of MarketWatch reads.


In September this year, ECB estimated the GDP in Euro zone to position between a shrinkage of 0.4 percent and a positive 1.4 percent.


ECB president said that the economy in Euro zone will persist as fragile also in 2013 but a gradual recovery is expected to be seen in the second half of the next year, due to the improvement of global economies and a more unbent monetary policy run by the bank.

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