Q1 2024 Vienna Insurance Group Wiener Versicherung Gruppe AG Earnings Call Transcript
Welcome to Vienna Insurance Group first-quarter update call. Today, Peter Höfinger, our Deputy CEO; Liane Hirner, our CFRO; and Gábor Lehel, our Chief Innovation Officer; will guide you through the presentation and then be available to answer your questions.
I hand over to Peter. Please go ahead.
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Thank you. Good afternoon. From my side, I would like to start to give you an update of the latest macroeconomic outlook for our region. I believe it shows a pretty positive picture where we are. The GDP growth of the new members out of our region is forecasted an average of 2.5%, rising to 3% in 2025 and significantly with this outperforming the euro area, which is projected at 0.6% and still next year doubling the growth rate in the Eurozone. At the same time, the inflation in most of our markets is significantly slowing down and having also a rapid real wage growth as it is on the ground of falling food and energy prices.
Therefore, private
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