The International Monetary Fund (IMF) expects the growth of the Eurozone economy to will decrease by 0.1 percentage points in 2024 and by 0.3 the following year, according to the published report of the IMF on the prospects for the development of the world economy. In 2023, the Eurozone economy grew by 0.4%. It is expected to grow by 0.8% in 2024, and by 1.2% in 2025.
The report notes that moderate growth in 2024 is due to a “better-than-expected export performance”. “The increase in real wages is expected to trigger a surge in consumption, and the gradual easing of monetary policy will support investment,” experts say.
The German economy is forecast to be unchanged this year and grow by 0.8% in 2025. In France, economic growth, according to IMF estimates, will be 1.1% both in 2024 and and in 2025. In Italy - 0.7% in 2024 and 0.8% in 2025. In Spain - 2.9% in 2024 and 2.1% in 2025.
The International Monetary Fund (IMF) upgraded its forecast for Russia's GDP growth in 2024 to 3.6%, but downgraded its forecast for 2025 to 1.3%. The forecast for 2024 has been increased by 0.4 percentage points (pp) compared to the fund's previous data, and for 2025 it has been lowered by 0.2 pp. In 2023, the Russian economy grew by 3.6%.
The fund believes that the slowdown in the Russian economy will occur because “private consumption and investment are slowing amid easing labor market tensions and slowing wage growth”.
The IMF predicts that the growth rate of the Ukrainian economy in 2025 will be 2.5%, in 2024 - 3%.
The International Monetary Fund (IMF) revised its forecast for China's GDP growth rate downwards - by 0.2 percentage points to 4.8% in 2024.
The document notes that IMF experts expect a gradual slowdown in the growth rates of the Chinese economy. “Despite a weak real estate market and low levels of consumer confidence, growth will slow only slightly to 4.8% in 2024, largely due to an overall better-than-expected export performance,” says the report.
Experts left unchanged the forecast for China's economic growth in 2025. It is expected to grow by 4.5%. At the same time, experts note that “recently taken measures may pose a risk to economic growth in the short term”.
The International Monetary Fund (IMF) upgraded its forecast for US economic growth to 2.8% this year and to 2.2% in 2025.
The forecast for 2024 has been raised by 0.2 percentage points (p.p.), and for the following year - by 0.3 p.p. compared to July data.
„Growth is expected to slow to 2.2% in 2025 as gradual fiscal tightening and a cooling labor market slow consumption growth,” the report said.
In September, the US Federal Reserve System, which serves as the country's central bank, lowered its key interest rate to 4.75-5.00%. The narrowing of the interest rate range was expected by the market. The indicator is at its peak since 2000. The Fed last cut rates in 2020 to support the economy amid the pandemic. It later peaked at 5.25-5.50% due to rising inflation.