Lower oil, softer euro & QE helpful to the economy – EU’s Dombrovskis

FXStreet (Mumbai) – In an interview at the International Monetary Fund’s (IMF) annual meeting in Lima, European Commission‘s vice president Valdis Dombrovskis noted that lower oil prices and a weaker EUR level are supporting the European economy.

Key Quotes:

“Lower oil prices, lower euro exchange rate [are] probably more positive factors for the European economy.”

“Quantitative easing which is being done now is helpful to the European economy at this stage, but also as [the] president of the ECB Mario Draghi has outlined, with monetary policies measures alone, you cannot solve structural problems in the economy.”

“So we also need to use this time wisely to implement structural reforms in the EU and member states to strengthen the competitiveness of our economy.”

On growth outlook, “Our current forecast is 1.8 percent growth for the EU this year and 2.1 percent next year … Actually we do not expect any major change in this forecast so we expect that economic recovery will gradually strengthen also next year in Europe.”

In an interview at the International Monetary Fund’s (IMF) annual meeting in Lima, European Commission’s vice president Valdis Dombrovskis noted that lower oil prices and a weaker EUR level are supporting the European economy.

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