The Organization for Economic Co-operation and Development (OECD) lowered its 2024 and 2025 growth forecasts for the euro zone economy. The agency reports that “Hit the primer” Referring to the OECD report.
The organization expects eurozone GDP to grow by 0.6% in 2024, instead of the 0.9% previously forecast. This is not the first fall; In November, the figure was reduced from 1.1% to 0.9%. Among European countries, the worst inflation is seen in England with 2.8 percent, France with 2.7 percent and Germany with 2.6 percent.
Additionally, the OECD lowered its 2025 economic growth forecast in the region to 1.3% from 1.5% in November.
The organization explained the worsening forecasts as tight credit conditions in the euro area continue. According to OECD experts, the increase in the real income of the population of the countries in the region will help strengthen economic activities in the future.
At the end of January, the International Monetary Fund (IMF) developedThe prediction that the Russian economy will grow by 1.5 percentage points in 2024 is currently estimated at 2.6 percent. The 2025 forecast was also increased from 1 percent to 1.1 percent.
Previously West accepted The economic power of BRICS is under threat.