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The fund also reported that it expects the eurozone economy to grow by 3.9% by the end of the current year (down 0.4 percentage point from the October report), with a slowdown to 2.5% next year (previously 2% was expected).
At the same time, the largest economies of the currency bloc will rather lag behind the average pace, according to the document. For example, German GDP growth is expected to be 3.8% and 2.5%, France 3.5% and 1.8%, Italy 3.8% and 2.2% and Spain 5.8% and 3.8% in 2022 and 2023 respectively. From the UK, which is not part of the euro zone, the IMF expects the economy to grow by 4.7% and 2.2%.
Based on last year's results, the IMF expects eurozone GDP to grow by 5.2%.
The IMF also lowered its forecast for Chinese economic growth by 0.8 percentage points to 4.8% in 2022 and by 0.1 percentage points to 5.2% in 2023.
The IMF experts describe the slowdown of the Chinese economy, which is expected to grow by 8.1% in 2021, as one of the factors of deterioration of the global conjuncture with the most sensitive consequences for exporters of raw materials and developing markets. They see one of the main challenges for China as the credit crunch for construction companies and a likely slowdown in real estate investment growth.
source: imf.org
At the same time, the largest economies of the currency bloc will rather lag behind the average pace, according to the document. For example, German GDP growth is expected to be 3.8% and 2.5%, France 3.5% and 1.8%, Italy 3.8% and 2.2% and Spain 5.8% and 3.8% in 2022 and 2023 respectively. From the UK, which is not part of the euro zone, the IMF expects the economy to grow by 4.7% and 2.2%.
Based on last year's results, the IMF expects eurozone GDP to grow by 5.2%.
The IMF also lowered its forecast for Chinese economic growth by 0.8 percentage points to 4.8% in 2022 and by 0.1 percentage points to 5.2% in 2023.
The IMF experts describe the slowdown of the Chinese economy, which is expected to grow by 8.1% in 2021, as one of the factors of deterioration of the global conjuncture with the most sensitive consequences for exporters of raw materials and developing markets. They see one of the main challenges for China as the credit crunch for construction companies and a likely slowdown in real estate investment growth.
source: imf.org
