Economic growth in the euro area will be slightly stronger in 2015 than it was previously estimated, according to the European Commission's latest forecast.
Thanks to cheaper oil, a weak euro and stimulus measures, the growth will constitute 1.5% in 2015, up 0.2 percentage points from the institution's forecast in February.
The report said faster growth would see inflation rise and unemployment fall.
For the next year, the Commission kept its forecast of 1.9% for the euro zone, BBC reports.
"The European economy is enjoying its brightest spring in several years, with the upturn supported by both external factors and policy measures that are beginning to bear fruit," said Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs.
Germany, Europe's biggest economy, is powering the recovery, as its growth is
forecast to see growth of 1.9%, followed by 2% next year.
Spain's
recovery is predicted to continue, with growth of 2.8% in 2015 and 2.6%
the following year.
The Commission, however, slashed its forecast for Greek gross domestic product in 2015 to just 0.5 percent from a previous estimate of 2.5 percent.
