The International Monetary Fund (IMF) has recently revised its global economic growth forecasts, citing strong performance in the United States and emerging economies like India and Brazil as the driving factors behind the improvement. While Belgium is also projected to experience more positive growth, this positivity does not extend to the entire eurozone.
According to the latest ‘World Economic Outlook’ from the IMF, the global economy is expected to grow by 3.2 percent this year, up slightly from the 3.1 percent forecast in January. The outlook for 2025 remains steady at 3.2 percent. Despite the better projections, the IMF cautions that high borrowing costs and reduced government support could dampen short-term growth. Additionally, long-term growth prospects remain at some of the lowest levels in decades due to weak productivity and ongoing global trade tensions.
While the United States is projected to see a significant increase in economic growth (from 2.1 percent in January to 2.7 percent now), Europe’s outlook is less optimistic. The eurozone is expected to grow by only 0.8 percent this year and 1.5 percent in 2025, a slight improvement from previous forecasts of 0.9 percent and 1.7 percent but still reflecting challenges from past shocks and restrictive monetary policies