The European Union's economic forecast predicts that all 19 of its economies are likely to grow this year in a sign of welcome news as Greece's debt woes weigh on economic confidence.

The EU's winter forecast released Thursday says that eurozone growth will rise to 1.3 percent in 2015. The growth rate in powerhouses France and Italy, both struggling with large deficits, is set to rise to 1.0 percent and 0.6 percent respectively.

The drop in oil prices and a depreciating euro have helped economies, but weak investment and high unemployment are undermining progress.

The EU's top economy official, Pierre Moscovici, welcomed the improved forecast but said "there is still much hard work to do to deliver the jobs that remain elusive for millions of Europeans."