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Added on the 23/11/2020 11:42:50 - Copyright : Wochit
The EU sharply cut its eurozone growth forecast for 2024, Commissioner for the Economy Paolo Gentiloni says. Gentiloni says the European Commission predicts the single-currency economic area to grow by 0.8 percent in 2024, down from a previous forecast of 1.2 percent. SOUNDBITE
The European Commission cut its 2023 and 2024 eurozone economic growth forecasts, with the single currency area weighed down by Germany's poor performance. "The EU GDP growth for 2023 is now estimated at 0.8%, which is 0.2 percentage points lower than projected in spring," says Paolo Gentiloni, the European Commissioner for Economy. SOUNDBITE
The European Central Bank slashes its growth outlook for the eurozone to 2.8 percent in 2022 and 2.1 percent in 2023, as Russia's invasion of Ukraine wreaks havoc on the world economy. SOUNDBITE
Paolo Gentiloni, European Commissioner for Economy, announces that the EU is sharply cutting its eurozone growth forecast for 2022 to 2.7 percent as the bloc struggles with skyrocketing energy prices due to the war in Ukraine. SOUNDBITE
The OECD cuts its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the China-US trade war threatens to crimp global growth. Governments "must act urgently to reinvigorate growth that benefits all," the Organisation for Economic Co-operation and Development says as it pared back its forecast for global growth to 3.2 percent this year from 3.3 percent earlier. SOUNDBITE
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