The huge numbers of asylum seekers arriving in Europe as a result of the migration crisis will have a small but positive impact on the EU's economy, European economics commissioner Pierre Moscovici said Thursday.

"There will be an impact on growth that is weak but positive for the EU as a whole, and that will increase GDP (Gross Domestic Product) by 0.2 to 0.3 percent by 2017," Moscovici said as he unveiled the EU's autumn economic forecast.