BRUSSELS (AFX) - The European Commission is maintaining its view that euro zone and EU GDP growth this year will be close to their trend growth potential rate of 2.5 pct, EU economic and monetary affairs commissioner Pedro Solbes said.
He noted that although the Commission's spring economic forecasts in April put 2001 GDP growth at 2.8 pct for both the euro zone and EU, its has since acknowledged this was over-optimistic. "We know today the assumptions then have not been fulfilled, so now we are not so optimistic," he said.
"But I've already said that despite the slowdown, the growth rate will continue close to the potential growth rate for the euro zone and EU."
The growth potential rate is about 2.5 pct, but some Commission studies show it is less than that, he said.
Solbes said it is hard to specify a GDP forecast today without sufficient extra data to be more precise about the figure. "Even doing so, has disadvantages and inconveniences," he added.