More problems for Germany
Individual countries eurozone they give their value GDP for Q2 2024. France is in pretty good shape, Germany in a slightly worse way, notes Marek Tejchman. He is echoed by Rafał Hirsch, who provided the latest data from the German economy: -0.1% of GDP.
Eurozone with GDP growth
Other large Eurozone economiesItaly, Spain and France “are ahead,” Hirsch added. This means that things could be quite good in the eurozone in the second quarter of this year. A small Irelanddue to the dynamic and deep GDP growth and decline, strongly influences the GDP result of the entire eurozone. Yesterday, very positive news came from Dublin: Ireland recorded a growth of 1.2 percent quarter on quarter. This means that Eurozone GDPdespite Germany’s slip-up, will look good, concluded Hirsch.
Polish GDP will be lower than expected
Data from the Polish economy for the second quarter will not appear until mid-August, but rather gloomy predictions are appearing more and more often. Analysts Credit Agricole Bank Polandwho had previously forecasted a 2.8 percent increase, lowered their forecast current forecast to 2.3 percent. This is an extremely pessimistic assumption. No one else is forecasting such a low growth rate in PolandMost forecasts are around 3 percent of GDP, Hirsch said.
Excessive deficit procedure will force cuts
The poor economic results coincided with the imposed EU to Poland excessive deficit procedure. We’ll have to measure this in a moment. deficit to GDP ratio. Minister of Finance Andrzej Domański recently announced that no cuts in state budget spending it won’t be because we will grow out of this deficit by quickly economic growthHirsch reminded. And at this moment it turns out that we do not have this rapid economic growth. This means that in a year something from budget expenditures will have to be cut.
The entire conversation is available in the video:
