Foreword

Stephen Millard ()

National Institute Global Economic Outlook, 2024, issue 16, 4

Abstract: As we say goodbye to Brat Summer we find ourselves in an even more dangerous global environment than we were three months ago. With Israel extending its campaign in Gaza to include an invasion of Lebanon, it seems we might be on the brink of a full-blown war in the Middle East. Meanwhile in Europe, there appears to be no end in sight to the attritional Russia-Ukraine conflict. Against this background, global growth continues to remain surprisingly resilient. Despite these continuing conflicts, and associated fluctuations in energy prices and shipping costs, we now think the global economy will grow by 3.2 per cent in 2024 and by 3.2 per cent in 2025.

Date: 2024
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