Spain will lead the growth of the large economies of the eurozone in 2023 with 1.5%, according to the OECD

MADRID, 26 Sep. (EUROPA PRESS) -

The gross domestic product (GDP) of Spain will register a growth of 1.5% in 2023, which represents the highest rise among the four large economies that make up the euro zone, according to the forecasts published this Monday by the Organization for Cooperation and Economic Development (OECD).

In addition, Spain will not only lead the main economies of the euro zone, but its forecast cut has been the smallest among its peers, with an adjustment of seven tenths.

In this way, the OECD has revised down the growth of Germany by 2.4 points, which will enter a recession of 0.7% next year. On its side, France will grow by 0.6%, eight tenths less; and Italy will advance 0.4%, also eight tenths less.

"The global economy has lost momentum in the face of the illegal, unjustifiable and unprovoked war against Ukraine. GDP growth has stalled in many countries and economic indicators point to a widespread slowdown," said OECD Secretary-General Mathias Cormann.

Regarding the estimates for 2022, Spain is the country that will grow the most among the other three large economies in the euro, with 4.4 (three tenths less than previous forecasts). Germany's GDP will expand by 1.2%, seven tenths less, while France's will grow by 2.6, two tenths more, and Italy's will rise by 3.4%, nine tenths more.

The set of the Nineteen countries that make up the euro area will register a joint growth of 3.1% in 2022, which represents an upward adjustment of five tenths compared to the forecasts of three months ago. Looking ahead to 2023, the data has been revised down 1.3 points to 0.3%.

On the other hand, the world as a whole will grow 3% this year, unchanged from the June estimates, but 2.2% next year, six tenths less.