IMF predicts modest Euro Area growth amidst ongoing challenges.
2023-01-01
The International Monetary Fund (IMF) has recently released their latest GDP forecasts for the Euro Area, predicting economic growth to reach 0.7% in 2023 and 1.6% in 2024. These figures are the same as the previous GDP forecasts released by the IMF on January 1, 2023. In comparison to other sources, the European Central Bank (ECB) also released their own GDP forecasts for the Euro Area, predicting growth to reach 0.6% in 2023 and 1.5% in 2024, which are slightly lower than the IMF’s forecasts. However, the Organisation for Economic Co-operation and Development (OECD) predicts slightly higher growth rates, with 0.8% growth expected in 2023 and 1.9% growth in 2024. Overall, the IMF's latest forecasts suggest continued but modest economic growth for the Euro Area, with growth rates remaining consistent with previous predictions from the same source.