EU cuts Eurozone growth forecasts as perfect storm darkens horizon

ASTANA. KAZINFORM - Eurozone economic growth will slow significantly this year, the European Union said Thursday, as the currency union faces a perfect storm of weakening global trade and rising domestic risks led by a chaotic Brexit, according to a Dow Jones Newswires report supplied to Efe.

Gross domestic product in the 19-member eurozone will grow by 1.3 percent in 2019, the EU said in its quarterly report, cutting its 1.9 percent forecast from Nov. The expansion rate is seen declining to 1.6 percent next year, down from 1.7 percent previously expected.

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