The European Commission raised its growth projections for the eurozone on Wednesday, more confident than ever that the solid economic recovery in Europe will endure through 2019.

The commission, the EU's executive arm, said the 19-country single currency bloc's economy would expand by 2.3 percent in 2018, up from a previous forecast made in November of 2.1 percent.

Growth would then continue at a solid pace next year, with the eurozone economy expanding by 2.0 percent in 2019, instead of the earlier-predicted 1.9 percent.