World Bank released its European Union Regular Economic Report (EU RER) on Tuesday. The bank said that the economy in the European Union (EU) continued to improve in 2015. The growth is estimated to be 2% in 2015.
Central Europe showed the highest growth, driven by the Czech Republic, Poland, and Romania, while Southern Europe expanded 1.4% in 2015, driven by an improvement in labour markets.
"The story in the region is positive. Unemployment rates are reaching pre-crisis levels in many EU countries and unemployment among the young - who suffered the largest increase in poverty during the crisis - is finally declining," World Bank Lead Economist and co-author of the latest report, Doerte Doemeland, said.