TAILIEUCHUNG - European Economic Forecast Spring 2012

Despite the deterioration of the economic situation in 2012, fiscal deficits are still expected to fall to 3½% of GDP in the EU and 3¼% in the euro area on the back of consolidation plans implemented in the course of the year. The available information from budgets for 2013 points to continued, though somewhat slower, consolidation with headline deficits projected at 3¼% of GDP in the EU and 2½% in the euro area. A moderate decrease in the pace of fiscal consolidation is also reflected in the structural improvements of the budget balance, which in the EU is. | European Commission European Economic Forecast Spring 2012 EUROPEAN ECONOMY 1 2012 The European Economy series contains important reports and communications from the Commission to the Council and the Parliament on the economic situation and developments such as the European economic forecasts the annual EU economy review and the Public finances in EMU report. Unless otherwise indicated the texts are published under the responsibility of the Directorate-General for Economic and Financial Affairs of the European Commission BU24 3 12 B-1049 Brussels to which enquiries other than those related to sales and subscriptions should be addressed. Legal notice Neither the European Commission nor any person acting on its behalf may be held responsible for the use which may be made of the information contained in this publication or for any errors which despite careful preparation and checking may appear. More information on the European Union is available on the Internet http . ISBN 978-92-79-22818-6 doi 18718 European Union 2012 Reproduction is authorised provided the source is acknowledged. European Commission Directorate-General for Economic and Financial Affairs COMMISSION STAFF WORKING DOCUMENT European Economic Forecast Spring 2012 EUROPEAN ECONOMY 1 .

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