Animals
Business
Crops
Environment
Food
General
Horticulture
Livestock
Machinery
Markets
Politics
Login
 
 
 
Submit to register and subscribe
(72,60 / year)
 
I forgot my password

 16 may 2022 17:01 

Spring 2022 Economic Forecast: Russian invasion tests EU economic resilience


Today, Commissioner Gentiloni presented the European Commission's Spring 2022 Economic Forecast.

 The outlook for the EU economy shows that Russia's invasion of Ukraine has posed new challenges, just as the Union had recovered from the economic impacts of the pandemic. By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty, the war is exacerbating pre-existing headwinds to growth, which were previously expected to subside. This has led the European Commission to revise the EU's growth outlook downwards, and the forecast for inflation upwards. Real GDP growth in both the EU and the euro area is now expected at 2.7% in 2022 and 2.3% in 2023. Inflation in the euro area is projected at 6.1% in 2022, before falling to 2.7% in 2023. For the EU, inflation is expected to increase from 2.9% in 2021 to 6.8% in 2022, and fall back to 3.2% in 2023. Unemployment rates are forecast to decline further, to 6.7% this year and 6.5% in 2023 in the EU and to 7.3% and 7.0% in 2022 and 2023 respectively in the euro area. A press release is available online. More information is available on the Spring 2022 Economic Forecast website.

 


  Newsflash
 
EU Consumer protection: TikTok Lees meer
 
 
Eurobarometer on Europeans, Agriculture and the CAP Lees meer
 
 
hero role for potatoes in global food security? Lees meer
 
 
Farm to Fork: Ongoing reduction of chemical pesticides' useLees meer
 
 
Edible protein efficiency of Belgian livestock systems calculated for the first time Lees meer
 
 
How the humble potato is already helping end world hunger Lees meer
 
 
Doubling global potato production in 10 years is possibleLees meer
 
 
Nature based solutions reduce climate change ans weather-related disastersLees meer
 
 
Europe feeds the worldLees meer