Publicat pe 04/03/2024

Bucharest, March 4, 2024: Global Economic Survey 2024 (GES2024), a survey carried out by the Association of European Chambers of Commerce (EUROCHAMBRES), to which the Romanian Chamber of Commerce and Industry (CCIR) also contributed, identified, for the current year, the main causes of concern for the international business community as: geopolitical tensions, disruption of supply chains, access to raw materials and energy security.

The survey is based on responses from business representative organizations in countries whose economies account for approximately 70% of the total global Gross Domestic Product (GDP).

For the second consecutive year, instability caused by geopolitical tensions continues to weigh heavily on the global economic outlook as the biggest business challenge. The conflicts in Ukraine and the Middle East, but also the fact that 2024 is an election year for 76 states, contributed significantly to the answers given to the organizations participating in the survey.

Supply chain issues have also risen from being the fourth most important challenge last year to the second most important challenge facing the global economy in 2024.

Regarding growth forecasts, the GES2024 survey indicates that developed economies, such as those of the European Union (EU), the United States of America (USA) and the United Kingdom, will have a moderate growth rate, slightly below the estimates of the International Monetary Fund (IMF ). ). Thus, for the EU the survey forecasts 1.25% economic growth (compared to 1.4 IMF), for the USA 1.3% (compared to 1.5% IMF), and for Great Britain – 0.4% (compared to 0 ). .6% IMF).

Conversely, states belonging to the Association of Southeast Asian Nations 5 (ASEAN 5), Turkey, states in the Persian Gulf area and those in the Asia-Pacific region, will register higher economic growth than the estimates of the International Monetary Fund (IMF).

Also, the study indicates an increase in foreign direct investment flows (FDI) in the US and China, while in Europe, the level for them is estimated to remain constant.

The full results of the study can be accessed here: GES2024