The European Commission raises inflation forecasts in the euro area and the European Union

In its report today, the European Commission raised its inflation forecast in the eurozone to 7.6% for the current year, and also lowered its growth forecast for the EU and eurozone economies.

The European Commission, in its forecasts last spring, assumed an acceleration of inflation this year to the level of 6.8%, a slowdown in 2023 to the level of 2023.

As for the EU as a whole, the European Commission has indicated that the inflation rate is expected to rise this year from 6.8% to 8.3%.

The commission said inflation is expected to rise to historically high levels this year, noting that last year’s rate was just 2.9%.

The following are the most famous statements by European Commissioner for Economics Paolo Gentiloni on the economic outlook:

The main risks facing the EU economy at the moment are the suspension of Russian gas supplies and the resumption of the epidemic.

– The European Commission lowers its 2023 GDP growth forecast for the Eurozone from 2.3% to 1.4%, and for the European Union the forecast is reduced from 2.3% to 1.5%.

– The European Commission lowered its economic growth forecast for Germany in 2023 from 2.4% to 1.3%.

The European Commission raised inflation expectations in the Eurozone to 7.6% for 2022 and to 4% for 2023.

Source: TASS + RIA Novosti