IMF Lowers Eurozone Economic Forecast For 2019
The main reason for the weakening of economic indicators in the Eurozone, IMF experts consider stagnation in the German economy.
The International Monetary Fund believes that the pace of economic growth in the Eurozone in 2019 will be lower than previously expected. This is stated in the IMF World Economic Outlook (WEO), presented on Wednesday, November 6, in Brussels. According to WEO, in the Eurozone, GDP growth in 2019 will be 1.2%, compared with 1.9% in 2018. According to the April forecast, the economic growth rate was to reach 1.3 percent.
Some acceleration of growth is forecasted for 2020 and 2021 – up to 1.4%. However, it is also lower than the April conclusions of IMF experts, which suggested an increase of 1.5 percent.
Experts say that the reason for the slowdown in economic stagnation lies in Germany, the largest national economy of the Eurozone. Here, in 2019, GDP is expected to rise by only 0.5%, which is 0.3% lower than the April forecast. In 2018, GDP growth amounted to 1.5 percent.