Further to its role in trade and financial markets, where it has been well received, the euro has asserted itself as an important official reserve currency and as an anchor in exchange rate regimes in many non-euro area countries.
Private consumption will remain the main driver of economic growth. However, its growth will decelerate due to a slower growth in real household income – wages, pensions, and remittances from abroad. Investment demand will be limited by political uncertainty in the year of presidential and parliamentary elections. Growth in real GDP will accelerate to 2.9% in 2020 and 3.7% in 2021.