Ministry of Finance Projects 2.9% Growth Rate for 2024

Ministry of Finance Projects 2.9% Growth Rate for 2024

Steady GDP Growth and Decreasing Unemployment Predicted, with Inflation Expected to Stabilize

The Ministry of Finance predicts that GDP growth will reach 2.9% in 2024, according to new forecasts. For the years 2025 to 2027, GDP is expected to further increase by 3.1%, 3.2%, and 3.3% respectively.

In terms of inflation, the Ministry forecasts a decrease to 2.5% for 2024, with subsequent years until 2027 expected to stabilize around 2%.

Unemployment rates are also projected to decline, from an anticipated 5.8% in 2024 to 5.5% in 2025, 5.3% in 2026, and 5.1% by 2027.

Additionally, the fiscal balance is expected to remain in surplus. This year, a surplus of 2.9% of GDP is anticipated, with slightly smaller surpluses expected for 2025 to 2027, forecasted at 2.8%, 2.6%, and 2.1% respectively.

A significant reduction in public debt is also projected. It is estimated that public debt will drop to 70.6% of GDP in 2024 and will continue its downward trajectory to 65.5% in 2025, 59.2% in 2026, and 54.6% in 2027.

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