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Eurozone growth expected at 1.7 % in 2017

dpa logodpa 11/05/2017

Growth in the eurozone is expected to be at 1.7 per cent in 2017, with the lowest growth predicted in Italy.

Growth in the eurozone is expected to be at 1.7 per cent in 2017, with the lowest growth predicted in Italy, at 0.9 per cent, the European Commission says.

The predictions are part of the so-called European Spring Economic Forecast for the 19-member currency bloc.

While the figures show Europe is entering its fifth consecutive year of growth after the financial crisis, the growth rate differs quite dramatically across the bloc.

The highest growth this year is predicted for Malta (4.6 per cent), Luxembourg (4.3 per cent) and Ireland (4.0 per cent).

The lowest growth rates are recorded in Italy, Finland (1.3 per cent) and France (1.4 per cent).

Valdis Dombrovskis, the commissioner in charge of the euro, said "better performance was recorded in the economies that have implemented more ambitious structural reforms".

"To redress the balance, we need decisive reforms across Europe from opening up our products and services markets to modernising labour market and welfare systems."

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