For the first time in over a year, the International Monetary Fund (International Monetary Fund) improves its outlook for the global economy. It raised its growth forecast by twenty world gross domestic product (GDP) By 2023, it will reach 2.9%. the Euro-zone It will grow by 0.7% on average, and Spain, although it will fall by a tenth of the initial forecast, will be the most developed country among the large European economies.
The organization just submitted his last prospects For global growth indicates that Euro-zone It will grow by 0.7% in 2023, two-tenths more than expected last October, and it will increase by 1.6% in 2024, two-tenths less. The International Monetary Fund has improved forecasts for almost all major economies in the region, with the exception of Spain, which will grow by a tenth less than expected.
However, the report highlights this Although our country is getting worse, it is still the most developed country. It is the only one of the large European economies for which the IMF is increasing its forecasts, however It will grow 1.1% in 2023less than a tenth of what was calculated in October, and 2.4% in 2024, that is, a tenth less.
With the new IMF forecasts, Italy s Germany They will not score red numbers this year, as planned. Italy will grow 0.6%, eight-tenths more than expected in the previous report, and Germany, 0.1%, four-tenths more.
Expectations France It has not changed and will grow this year by 0.7%, while it will recover in 2024 to 1.6%, just like Germany (1.4%) and Italy to a lesser extent (0.9%).
Kristalina Georgieva, Managing Director of the International Monetary Fund.
The improvement in the economy in general is a reflection of the effects of sharp hikes in interest rates by the European Central Bank and that wholesale energy prices are lower than expected, after storing enough gas, according to the IMF report.
It is also scheduled for financial and social policies carried out by governments, such as monitoring energy prices or cash transfers.
Outside the European Union, the United kingdom Which will see a decline of 0.6% in 2023, with a downward revision of nine-tenths compared to October, reflecting tighter fiscal and monetary policies and financial conditions and continued high retail energy prices, affecting the local economy.
Second, United State It will advance 0.4%. among emerging economies, China Driving growth, at 5.2% in 2023, nine-tenths more than that estimated in October.
In Latin America, the two largest economies in the region, Mexico s Brazilthe outlook has improved and increases of 1.7% and 1.2% are expected, respectively.
More information about the economic outlook
– The International Monetary Fund exacerbates the outlook for Europe but rules out a recession
– The economy slows its growth in the world but avoids recession
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