Economic growth in the euro area will bottom out at 0.7% in 2023 before rebounding to reach 1.6% in 2024, the International Monetary Fund (IMF) said in its updated World Economic Outlook (WEO)
WASHINGTON (Pakistan Point News / Sputnik - 31st January, 2023) Economic growth in the euro area will bottom out at 0.7% in 2023 before rebounding to reach 1.6% in 2024, the International Monetary Fund (IMF) said in its updated World Economic Outlook (WEO).
"Growth in the euro area is projected to bottom out at 0.7 percent in 2023 before rising to 1.6 percent in 2024," the WEO said on Monday.
The 0.2 percentage point upward revision to the forecast for 2023 reflects the effects of faster rate hikes by the European Central Bank and eroding real incomes, the report added.
