In the medium-term, challenges such as high unemployment and persistent structural weaknesses in the euro area would continue to weigh on growth, the IMF said.
"As a result, growth five years ahead is expected to be about 1.5%, with headline inflation reaching only 1.7%," the report said.
It also said that as the euro area was such a big player in world trade, any slowdown could have an impact on other economies, including emerging markets, but it expected this to be "limited".