EU lowered economic growth expectations next year

Xinhua News Agency, Brussels, July 14 (Reporter Kang Yilin Hao) The summer economic prediction report released by the European Commission on the 14th said that the EU's expected economic growth expectations this year will remain unchanged, but the growth expectations of next year will be reduced.

The report predicts that the EU economy will increase by 2.7%in 2022, and will increase by 1.5%in 2023; the euro zone economy will increase by 2.6%in 2022, and will slow to 1.4%in 2023. In 2022, the average annual inflation rate of the European Union was 8.3%, and the euro zone was 7.6%; in 2023, the EU's average annual inflation rate fell to 4.6%, and the euro zone was 4.0%.

The report said that the EU relies on Russia's fossil fuels, and its economy is susceptible to the development of the energy market. The slowdown of global economic growth has also affected external demand. It is expected that economic activities will be sluggish this year. A new round of natural gas prices may further push up inflation and suppress economic growth. At the same time, the possibility of destruction of the new crown epidemic in Europe cannot be ruled out in Europe.

Embodeskiskis, executive vice chairman of the European Commission, said that Europe is facing challenges such as rising energy and food prices and uncertain global economic prospects. Economic growth will slow down in the second half of this year. In view of the tightening of high inflation and financing conditions, it is essential to find appropriate balance between more prudent fiscal stances and protecting fragile groups.

In May of this year, the European Commission announced the spring economic forecast report, which reduced the EU's economic growth expectations this year from February forecast data to 2.7%, reduced the growth expectations next year to 2.3%. It is expected that the EU's inflation rate this year will be 6.8%. In 2023, it will be will be 6.8%. In 2023, it will be will be 6.8%. In 2023 Fall to 3.2%.

[Editor in charge: Feng Li]

- END -