GDP growth rates in Europe 2024
The European Union's fastest-growing economy in 2024 is forecasted to be Ireland, with the country's gross domestic product growing by five percent next year. Malta's economy is forecasted to grow by 4.1 percent in the same year, with the economy of Romania growing the third-fastest at 3.5 percent. By contrast, the UK economy is projected to be the slowest growing European economy in 2024, with an annual GDP growth of just 1 percent. After relatively fast growth in 2021 and 2022 following the end of restrictions related to the COVID-19 pandemic, many economies in Europe have slowed in 2023 and this is projected to continue in 2024. The destabilized geopolitical situation and energy crisis due to Russia's invasion of Ukraine is a contributing factor for many countries.
