Previously, the Commission estimated an economic growth of 2.2% for 2013 and of 2.7% for 2014.
In its winter forecast report, the Commission said domestic demand will also be the main driver of growth in 2013, while net exports are expected to contribute negatively due to a slower growth in export markets and stronger imports.
“Among demand components, investment will be the main contributor to growth, although it is projected to slow down in comparison to 2012 due to weaker-than-expected economic activity in the rest of the EU,” the report noted.
The current account deficit is expected to remain around 4% of the gross domestic product in the 2013-2014 period, while annual inflation is projected to average 4.6% in 2013 and 3.3% in 2014.