Economic growth is expected to strengthen to 1.7% in 2017 and 1.8% in 2018 on the back of improved labour market and investment conditions. After considerable improvement in 2017, the headline general government deficit is expected to remain broadly stable in the coming years, which would nevertheless allow for a further reduction in the debt-to-GDP ratio.

Indicators 2016 2017 2018 2019
GDP growth (%, yoy) 1,5 1,7 1,8 1,7
Inflation (%, yoy) 1,8 2,2 1,4 1,6
Unemployment (%) 7,8 7,3 7,0 6,8
Public budget balance (% of GDP) -2,5 -1,5 -1,4 -1,5
Gross public debt (% of GDP) 105,7 103,8 102,5 101,2
Current account balance (% of GDP) 0,1 -1,0 -1,1 -0,9

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