IMF: Consultation mission - Concluding Statement
Added: 02. 07. 2009
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Against the projected frail economic conditions in the euro area through 2009, real GDP is projected to shrink significantly this year - around 4,5 percent. Although the collapse of external demand is at the origin of the downturn, a drop in confidence and employment and tighter lending conditions will also dampen private consumption and investment. Downside and upside risks around the forecast are broadly balanced.
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