The economy in the euro countries is growing moderately this year with an average of 1.2 percent expected. The European Commission is slightly reducing its expectations for next year to 1.4 percent. The Netherlands continues to do a little better than average, with 1.6 percent growth this year and 1.5 percent in 2020, according to the Brussels summer forecast. In Germany (0.5 percent) and especially Italy (0.1 percent), growth is practically nonexistant this year.

According to EU Commissioner Valdis Dombrovskis (financial stability), the resilience of the European economy is being put to the test by international trade tensions and political uncertainty. Within the EU, the approaching departure of the United Kingdom, possibly without a divorce agreement, remains a high risk and therefore a source of uncertainty. In addition, the growth forecast for next year is partly due to a higher number of working days.

According to the committee, the stagnating growth in the Netherlands is mainly due to lower export figures. That is due to weak international trade and declining growth among the Netherlands’ most important trading partners, the committee writes. She calls the higher government spending positive, especially for defense, infrastructure and education.

Exactly one year ago, Brussels predicted an economic growth of 2 percent for all 28 EU countries this year, but now the figure is no more than 1.4 percent, the committee thinks. But things are going remarkably well in the Eastern European countries. In Hungary and Poland, for example, both not euro countries, Brussels expects economic growth of 4.4 percent this year.

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