The update to the Organization for Economic Co-operation and Development’s forecasts maintains Spain as the major eurozone economy that would perform best this year.
The Organization for Economic Co-operation and Development (OECD) has revised its proposal growth forecast for Spain in 2024, which is now estimated at 1.5%, after the 2.5% expansion in 2023.
The update to OECD forecasts maintains Spain as the major eurozone economy that would perform best this year and next, as it is the only one to have its 2024 growth forecast revised upwards.
The worse expected performance of the eurozone reflects the downward revision of the outlook Germanyto 0.3% this year and 1.1% next year, while it previously expected growth of 0.6% in 2024 and 1.2% in 2025.
For his part, France The country has also lowered its growth estimate to 0.6% in 2024, two tenths less, while the growth forecast for 2025 remains at 1.2%.
On inflation, the OECD has reduced the expected price increase in Spain by four-tenths in 2024 to 3.3%.
Experts who prepared the report warn that the tensions in the Middle East, which could worsen current forecasts. “High geopolitical tensions pose a significant short-term risk to activity and inflation, especially if the conflict in the Middle East disrupts energy markets,” the OECD estimates.
Source: EITB
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