In its quarterly publication released on Monday, the European Commission revised upwards its projections for Eurozone’s economic growth and inflation this year.

Additional takeaways

Forecasts 2023 Eurozone GDP growth at 1.1%, up from 0.9% forecast in Feb, sees growth in 2024 at 1.6%, up from the previous 1.5%.

Forecasts 2023 Eurozone inflation at 5.8%, up from 5.6% forecast in Feb, sees inflation in 2024 at 2.8%, up from the previous 2.5%.

Forecasts 2023 Unemployment steady at 6.8% of the workforce, falling to 6.7% in 2024.

Forecasts 2023 Eurozone aggregated budget deficit to shrink to 3.2%/GDP in 2023, 2.4% GDP in 2024 from 3.6% in 2022.

Forecasts 2023 Eurozone public debt to fall to 90.8% of GDP in 2023 and 89.9% in 2024 from 93.1% in 2022.