EU issues dire economic forecast ...News

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EU issues dire economic forecast
source : Russia Today ( News ) () 20
Brussels says inflation is expected to surge above 6% in both the European Union and eurozone this year The European Union on Monday slashed its forecasts for economic growth in the 27-nation bloc amid the sanctions imposed on Russia over the conflict in Ukraine and disruptions to energy supplies. According to the EU’s executive arm, the European Commission (EC), real GDP growth in both the EU and the euro area will be 2.7% in 2022, down from a 4% forecast three months ago. Growth is expected to slow to 2.3% next year, down from a previous forecast of 2.8% in the EU (and 2.7% in the euro area). “The outlook for th

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