Europe's prospects for stable economic growth are at risk, given the worsened external environment due to the trade war, the tightening of financial conditions and generally declining global economic growth.
Declining its vision of economic growth for Europe in 2018 and 2019, IMF in its report said that the conditions of the external environment are no longer conducive to maintaining good economic growth.
The average growth projection was 2.8% for 2017, 2.3% for 2018, and 1.9% for 2019. As a result, growth remained above potential levels for most of the region's countries driven by strong domestic consumption, backed by high wages and a strong labor market. In their latest forecast, they have lowered their outlook, but still note that growth will be strong but will be 2.6% in 2018 and 2.2% in 2019.
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