This pessimistic outlook can be attributed to several factors, including a weak industrial economy, a crisis in the construction industry and a decline in consumer spending, the IFW announced on Wednesday.
In 2024, the IFW now projects GDP growth of only 1.3 percent, compared to the previous estimate of 1.8 percent. Economists expect inflation to decline significantly next year, reaching 2.1 percent in both 2024 and 2025.
