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Image header Agence Europe
Europe Daily Bulletin No. 8331
Contents Publication in full By article 26 / 43
GENERAL NEWS / (eu) eu/economy

IMF predicts 0.75% growth in eurozone in 2002

Brussels, 30/10/2002 (Agence Europe) - In its Annual Report published on Tuesday, the International Monetary Fund (IMF) has revised down its growth estimates for the eurozone on the basis of disappointing general economic performance in the eurozone last year. The IMF is now predicting a growth in GDP of only 0.75% in 2002 compared with 0.9% less than a month ago. The IMF has also slimmed down its forecasts for 2003 to 2% growth (as against predictions of 2.3% a month ago). The IMF calls on the European Central Bank to cut interest rates and wants the four Member States in difficulty (Germany, France, Italy and Portugal) to cut their budget deficit by the equivalent of half a percent of GDP in the years to come to avoid compromising the Stability Pact.

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