Press Release: Improved EU economy needs more structural reforms

The performance of the EU’s economy has improved strongly in 2006. Economic growth and productivity are on the increase. Most recent developments point to a growth of the economy from 1.7 percent in 2005 to 2.8 percent in 2006, while the unemployment trend in general is downward. The Commission Competitiveness Report 2006, to be discussed at the upcoming Competitiveness Council, documents the further benefits that reform could bring in a series of policy areas. The report also highlights significant deficits in economic performance, such as sluggish growth in labour productivity since 1995. It underlines the urgent need to speed up the implementation of structural reforms under the Strategy for Growth and Jobs.