FRANKFURT, June 16: US Treasury Secretary John Snow said on Thursday the outlook for the US economy was one of “continued robust expansion”. Snow told a news conference that, in the United States, “strong growth is also working to boost revenues and the fiscal deficit is contracting sharply.”
However, “unfortunately economic growth in key continental European countries has been persistently weak for too long” — a topic that was discussed at a recent meeting of the Group of Eight industrialized countries, he added.
Reiterating concerns expressed by other senior members of the US administration, Snow said he has this week emphasised to European Union leaders “the need for Europe to implement vigorous structural reforms to boost its potential growth, jobs and incomes.”—AFP
