IMF downgraded its growth forecast for Eurozone economy in 2023
The International Monetary Fund (IMF) has cut its estimates for Eurozone growth to 0.7 percent in 2023 and to 1.2 percent in 2024, according to the IMF report on the prospects for the development of the world economy presented in Washington, data from which is cited by TASS
In July 2023, the IMF presented estimates according to which the Eurozone’s GDP will grow by 0.9 percent this year and by 1.4 percent next year.
“Eurozone growth is expected to fall from 3.3 percent in 2022 to 0.7 percent in 2023, before picking up to 1.2 percent in 2024,” the report said.
Thus, as follows from the document, ‘the forecast is reduced by 0.2 percent and 0.3 percent in 2023 and 2024, respectively’.
IMF experts agreed that there are discrepancies in growth rates between the largest economies in the Eurozone. In particular, the forecast for economic growth in Germany was reduced by 0.2 percentage points to -0.5 percent. The French economic growth forecast was adjusted by 0.2 percentage points and increased to 1 percent.
