The EU’s economy is set to grow significantly less than 2&percent; this year

Date: 16/05/1996

the Commission's revised forecasts will show today (15 May). Last November, the EU's gross domestic product was expected to expand by 2.6&percent;, but a slowdown in Germany put a dampener on this. Tax revenues decelerated, meaning that Commission forecasts anticipating deficits below 3&percent; of GDP in France and Germany by the end of 1997 budgets were also over-optimistic.