(slide 7) However, in the medium term, forces of growth will be weighed down by the burden of debt – the excessive leverage – which still troubles the European economy in particular. The recession has further aggravated the problem, because of the downward revision of income prospects and the expected capacity for debt service.
This favorable performance can be attributed to the stronger-than-expected domestic private demand, such as business fixed investment and private consumption, along with moderate export growth due to the expansion in overseas economies.