Slower economic growth is forecast for EU economies with record inflation to peak this year. That's according to the European Commission which today published its summer economic forecast.
The EU executive said the euro area economy is forecast to grow by 2.6 percent (2.6%) this year but only 1.4 percent (1.4%) next year. The bloc as a whole will grow by 2.7 percent (2.7%) this year and 1.5 percent (1.5%) in 2023 according to the Commission.
Annual average inflation is projected to peak at historical highs this year at 7.6 percent (7.6%) in the euro area and 8.3 percent (8.3%) in the EU. But inflation is forecast to ease next year to 4 percent (4.%) in the euro zone and 4.6% in the EU as a whole.
The European Economy Commissioner Paolo Gentiloni said Russia’s war against Ukraine continues to “send shockwaves through the global economy”. And he said Moscow’s actions are disrupting energy and grain supplies, pushing up prices and weakening confidence.
Out words: previous forecast
Dur: 00:41
“Significant building block to a potential agreement” - Tánaiste
Tánaiste urges space for Brexit deal
EU plans sanctions against Russia supporting nations
EU proposes 2023 European year of Skills
Calling all “Eurobabies” born 1st Jan 1973 – EMI
Ireland punching “far above” weight & size since Jan 73 – O’Connell EMI
Ireland “fundamentally transformed” since joining EEC – O’Connell
ECJ rules on “AirBnB tax” information and collection obligations
EU extends current arrangements on Movement of Vet Meds from GB-NI
EU extends supply of Vet Meds to NI grace period to 2025 - ŠEFČOVIČ
European ‘IRA’ in global green race
Trust of Europeans violated - Commissioner
Commissioner received football and chocs from Qatar
Need to harmonise corporate insolvency rules – McGuinness EU
EU Commissioner praises Donohoe’s Eurogroup presidency
Donohoe re-elected Eurogroup President
EU boss reflects on Jack Lynch’s EU optimism
“Progress” possible on Brexit Protocol issues – von der Leyen
EU boss thanks Irish for “opening” hearts & homes to Ukrainians
From “Flying taxis” to grocery deliveries in Dublin – Drones
Create your
podcast in
minutes
It is Free
Jim & Bill (It‘s Another Day)
HauntingLive
Dr. Paul’s Worldviews
The Ben Shapiro Show
The Daily