2023 is not the same as before // EC revised the macro forecast for the eurozone and the European Union

The European Commission (EC) on Thursday, July 14, again worsened the macroeconomic forecast for the countries of the European Union and the euro area. The main revision concerned the growth rates of economies in 2023: they are now expected to be almost one percentage point lower. Inflation expectations have been adjusted upwards – the peak of its growth, according to the EC, will fall in the third quarter of this year. The dynamics of this indicator largely depends on the cost of energy resources – an additional increase in gas prices can lead to stagflation, while the current weakening of oil prices or other raw materials on the world market, on the contrary, will reduce inflationary pressure, the EC notes. .

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