Annual Report and Consolidated Account
014
25
Except for the economy of the USA, which according
to all signs should continue to grow vigorously, the
EU, Japan and emergingmarkets will continue to grow
below their potential. But factors of political nature
may play an important role, with war situations in the
Middle East, the Ukraine conflict and the situation of
Greece standing out.
The lower price of oil will doubtless be one of the deci-
sive factors affecting economic and political develop-
ments in 2015.
Final
Note
