Updated: 02/22/2013 19:51 | By Agence France-Presse

EU economic forecasts

The European Commission issued its latest grim economic forecasts for the 17-nation eurozone and the wider 27-member European Union on Thursday.


Here are the main figures for this year and next, with the Commission's previous estimates in brackets. Thus the eurozone economy is expected to shrink 0.3 percent this year compared with the previous forecast for 0.1 percent growth.

2013 2014

GROSS DOMESTIC PRODUCT (PERCENT RATE)

EUROZONE minus 0.3 (0.1) 1.4

EU-27 0.1 (0.4) 1.6

GERMANY 0.5 (0.8) 2.0 FRANCE 0.1 (0.4) 1.2 ITALY minus 1.0 (minus 0.5) 0.8 SPAIN minus 1.4 (minus 1.4) 0.8 GREECE minus 4.4 (minus 4.2) 0.6 PORTUGAL minus 1.9 (minus 1.0) 0.8 IRELAND 1.1 (1.1) 2.2 CYPRUS minus 3.5 (minus 1.7) minus 1.3 BRITAIN 0.9 (0.9) 1.9

PUBLIC DEFICITS (AS PERCENTAGE OF GDP)

EUROZONE 2.8 (2.6) 2.7

EU-27 3.4 (3.2) 3.1

GERMANY 0.2 (0.2) 0.0 FRANCE 3.7 (3.5) 3.9 ITALY 2.1 (2.1) 2.1 SPAIN 6.7 (6.0) 7.2 GREECE 4.6 (5.5) 3.5

PORTUGAL 4.9 (4,5) 2.9

IRELAND 7.3 (7.5) 4.2 CYPRUS 4.5 (5.7) 3.8 BRITAIN 7.4 (7.2) 6.0

TOTAL PUBLIC DEBT (AS PERCENTAGE OF GDP)

EUROZONE 95.1 (94.5) 95.2 EU-27 89.9 (88.5) 90.3 GERMANY 80.7 (80.8) 78.3 FRANCE 93.4 (92.7) 95.0 ITALY 128.1 (127.6) 127.1 SPAIN 95.8 (92.7) 101.0 GREECE 175.6 (188.4) 175.2

PORTUGAL 123.9 (123.5) 124.7

IRELAND 122.2 (122.5) 120.1 CYPRUS 93.1 (96.7) 97.0 BRITAIN 95.4 (93.2) 97.9

UNEMPLOYMENT (PERCENT RATE)

EUROZONE 12.2 (11.8) 12.1 (11.7) EU-27 11.1 (10.9) 11.0 (10.7)

GERMANY 5.7 (5.6) 5.6 (5.5) FRANCE 10.7 (10.7) 11.0 (10.7) ITALY 11.6 (11.5) 12.0 (11.8) SPAIN 26.9 (26.6) 26.6 (26.1) GREECE 27.0 (24.0) 25.7 (22.2)

PORTUGAL 17.3 (16.4) 16.8 (15.9)

IRELAND 14.6 (14.7) 14.1 (14.2) CYPRUS 13.7 (13.1) 14.2 (13.9) BRITAIN 8.0 (8.0) 7.8 (7.8)

The European Commission's full report can be seen at the following Internet addresse: http://ec.europa.eu/economy_finance/eu/forecasts/2013_winter_forecast_en.htm

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