Euro Area Policies: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries

July 25, 2017

Preview Citation

Format: Chicago

Euro Area Policies: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries, (USA: International Monetary Fund, 2017) accessed December 22, 2024

Summary

This 2017 Article IV Consultation highlights that the cyclical recovery in the euro area is firming and becoming broad based. Lower energy prices, supportive policies, stronger labor markets and a recovery in credit growth have boosted domestic demand, especially private consumption. The near-term outlook is favorable, with growth of 1.9 percent expected in 2017 and 1.7 percent in 2018. Although headline inflation picked up in the first half of 2017 owing to higher energy prices, core inflation has remained persistently low. The improving near-term outlook is clouded by significant downside risks, especially in the medium and long term, amid thin policy buffers.

Subject: Banking, Fiscal policy, Fiscal stance, Inflation, Macrostructural analysis, Output gap, Prices, Production, Productivity, Structural reforms

Keywords: Bank, BRRD rule, CR, Europe, Fiscal stance, Global, Headline inflation, IMF country team, Inflation, Inflation outlook, ISCR, Liquidation aid provision, Long-term viability, Member state, Output gap, Productivity, Structural reforms

Publication Details

Pages:

66
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/235
Stock No:

1EUREA2017001
ISBN:

9781484312346
ISSN:

1934-7685

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