- Home
- Business
- IMF Cuts Forecast for Eurozone 2022 GDP Growth to 3.9%, Down 0.4 Percentage Points - WEO
IMF Cuts Forecast For Eurozone 2022 GDP Growth To 3.9%, Down 0.4 Percentage Points - WEO
Mohammad Ali (@ChaudhryMAli88) Published January 25, 2022 | 07:10 PM
WASHINGTON (UrduPoint News / Sputnik - 25th January, 2022) The International Monetary Fund (IMF) cut its 2022 GDP growth forecast for the eurozone by 0.4 percentage points to 3.9%, according to its updated World Economic Outlook (WEO) out on Tuesday.
"In the euro area, prolonged supply constraints and COVID disruptions produced a less severe revision of 0.4 percentage point," the WEO said.
A 0.
8 percentage point downgrade to 3.8% for Germany's 2022 GDP growth, caused by supply chain shocks, was the major reason for such shrinkage, the report read. The IMF also revised 2022 forecasts down for Spain to 5.8% (-0.6 percentage points), Italy to 3.8%, and France to 3.5% (-0.4 percentage points each). In 2023, the eurozone economy will add 2.5% of GDP, half a percentage point more than expected in October, the report noted.
Recent Stories
Sindh home minister chairs law and order meeting
Bakht Kakar orders to ensure maximum facilities in livestock sector
NEPRA concludes hearing into FCA of DISCOs for March
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
Chairman COPHC lauds MoMA’s efforts at Gwadar Port, Free Zone
CM’s aide directs steps to prevent domestic violence against women
LESCO detects 74,621 power pilferers in 220 days
Regional Police officer (RPO) Shariq Kamal Siddiqui holds open court
LESCO collects over Rs 4.36m from 189 defaulters in 24 hours
Secretary health urges public to follow precautionary measures to avoid spreadin ..
PM directs formation of committee for consultation with provinces on carbon cred ..
UAF to ink MoU with Ethiopian universities
More Stories From Business
-
IP rights crucial in achieving SDG : Jam Kamal
37 minutes ago -
FBR’s data protection efforts commended by OECD assessment team
34 minutes ago -
US stocks rebound on tech earnings, London hits new record
1 hour ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
1 hour ago -
SBP to announce monetary policy on April 29
1 hour ago -
50pc cut in subsidy of BRT service likely: CM’s aide
2 hours ago
-
PSX gains 771 points
3 hours ago -
Pakistan, US hold 7th TIFA meeting to strengthen trade and investment ties
4 hours ago -
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
3 hours ago -
Coca-Cola invests an additional $22 million in Pakistan
4 hours ago -
SECP Introduces SECP-XS: A swift complaint resolution platform
4 hours ago -
SBP to announce monetary policy on April 29
3 hours ago