3.4 EUROPE

Following several years of growth, the European economy is cooling down due to global and regional political and economic challenges, especially in the most-developed European countries. In 2018, the GDP of the Eurozone rose by 1.8% and in EU-28 by 1.9%. The European Commission (EC) forecast for 2019 is even less encouraging with 1.2% and 1.4% growth respectively.