The euro zone economy will contract by 4.1 per cent this year according to the latest OECD forecast, a government minister of euro zone member Slovenia said today.
"The latest data shows the expected fall of economic growth in euro zone in 2009 is 4.1 per cent," Minister of European Affairs and Development Mitja Gaspari told a news conference.
He said the OECD figures show Germany's economy will contract by 5.1 per cent and Italy's by 4.2 per cent.
These figures have come ahead of official publication of updated forecast of the OECD on March 31st.
The previous official OECD forecast, issued on November 25, predicted euro zone 2009 GDP down 0.6 per cent, Germany down 0.8 per cent and Italy down 1 per cent.