China to become fastest growing economy in 2024

China will become the fastest growing economy with a projected increase in gross domestic product (GDP) of 5.5% in 2023 and 4.7% in 2024, according to a European Commission report released on Monday.

The report also shows that US GDP could grow by 1.4% this year (up from a previously forecast 0.7%) and 1% in 2024 (up from a previously forecast 1.7%). 2023. In addition, global GDP growth is projected at 3.1% this year (compared to 2.9% expected last year) and 3.3% in 2024 (compared to 3.4% ).

On the other hand, the European Commission has improved the forecast of Russia’s GDP dynamics for this year. The Russian economy is forecast to contract by 0.9%, not 3.2% as previously expected, and grow by 1.3% in 2024.

Source: Juventud Rebelde


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