The World Bank expects euro-area growth at 0% in 2023, down 1.9 percentage points from previous forecasts, the financial institution said on Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 10th January, 2023) The World Bank expects euro-area growth at 0% in 2023, down 1.9 percentage points from previous forecasts, the financial institution said on Tuesday.
"In 2023, euro-area growth is expected at zero percent a downward revision of 1.9 percentage points," the World Bank said in a release about its Global Economic Prospects report.
The forecast has been revised in light of rising inflation and higher interest rates, as well as the current geopolitical situation, the Bank said.
Nonetheless, the World Bank forecasts that Europe's economy will get back on track with a 2.8% growth in 2024.
