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6/18, 2:21 PM (Source: TeleTrader)
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Draghi: EU GDP could grow over 4.2% by end of year

Italy's Prime Minister Mario Draghi said on Friday that he is optimistic about the European Union's economic recovery in light of the increased vaccination rollout.

Speaking in Barcelona, Draghi predicted that the EU's gross domestic product (GDP) could rise more than the 4.2% that the European Commission estimated. He noted the increase in consumer confidence as one of the reasons for his prediction, but he also added that monetary and fiscal support policies should be maintained as the pandemic carries a lot of uncertainty with it.

Draghi praised the vaccination effort, crediting it as the main reason for the economic rebound, adding that while the pandemic seems to be under control the bloc is "still far from the end" and that the "overall favorable outlook hides some significant risks."

Breaking the News / OL