Overall, opening up the services sector to new entrants would tend to foster more efficient and flexible services markets, facilitate adjustment processes and increase the resilience of the euro area to economic shocks. This would support economic growth and employment in the longer run. Euro area enlargement I would now like to say a few words on the issue of euro area enlargement.
GDP has been growing at an average annual rate above 2%, reflecting the continued dynamism of the export sector and, more recently, the rebound of private investment. Fiscal consolidation proceeded, with the budget balance expected to be around –0.5% in 2018 and public debt entering a downward trend.