(MENAFN) The International Monetary Fund hiked its eurozone's growth forecasts, as the economy getting boost from lower oil prices and record low interest rates, The Peninsula Qatar reported.
The IMF warned that the outlook was uncertain, with very low inflation reflecting weak demand while the Ukraine crisis and uncertainty over twice-bailed out Greece's future in the region were cause for concern.
The eurozone should grow 1.5 percent this year, up from the 1.2 percent estimated in January, the IMF said. For 2016, the IMF put eurozone growth at 1.6 percent, up from 1.4 percent.
"There are signs of a pickup and some positive momentum in the euro area, reflecting lower oil prices and supportive financial conditions but risks of prolonged low growth and low inflation remain," it said.
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