Ernst and Young: Economic Growth for This Year at 1.6% ({{commentsTotal}})

Source: Photo: Postimees/Scanpix

Ernst & Young's fresh forecast says the economy will grow 1.6 percent this year, one of the more optimistic estimates and half a percentage point above the figure expected for the entire Eurozone.

Last week, the central bank called for 0.7 percent while commercial bank Nordea said growth would be 1.2 percent.

Ernst & Young said in its Eurozone Forecast that the conflict in Ukraine and the partly related weak Russian economy could lead to a later downgraded.

Failure of the European Central Bank to keep deflation at bay could also spell trouble, said the public accountancy.

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