The International Monetary Fund (IMF) released on Tuesday an updated World Economic Outlook, forecasting steady economic growth for the European Union (EU) over the next two years. The report forecasts the bloc’s GDP growth at 1.1 per cent in 2024 and 1.8 per cent in 2025.
Consumer price inflation rates are also expected to rise, with the IMF projecting to reach 2.7 per cent in 2024 and 2.4 per cent in 2025. These figures reflect the ongoing economic recovery in the region following the global downturn.
Furthermore, the IMF report also anticipates growth in the EU’s current account balances to increase by $578 billion in 2024 and $590.8 billion in 2025.
This growth indicates a positive economic outlook for the EU, suggesting a strengthening of its financial position in the global economy.
