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IMF lowers forecast Eurozone economic growth in 2024 and 2025

The report noted that this year's moderate growth is explained by better-than-expected export performance

WASHINGTON, October 22. /TASS/. The International Monetary Fund (IMF) expects the economic growth rate in the Eurozone to decrease by 0.1 percentage points (p.p.) in 2024 and by 0.3 p.p. in 2025, the IMF said in its report on the prospects for the development of the world economy.

According to the document, the Eurozone economy will grow by 0.4% in 2023 and is expected to grow by 0.8% in 2024 and by 1.2% in 2025.

The report noted that this year's moderate growth is explained by better-than-expected export performance. Growth in real wages is expected to trigger a surge in consumption, while a gradual easing of monetary policy will support investment, the experts said.

The German economy is expected to remain unchanged in 2024 and grow by 0.8% in 2025. According to IMF estimates, France's economy will grow by 1.1% in both 2024 and 2025. Italy’s economy is expected to add 0.7% this year and 0.8% in 2025, and Spain's - 2.9% in 2024 and 2.1% in 2025.

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