European Commission improves GDP growth forecast for 2023 from 0.8% to 1% – Kommersant
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Today, 15 May, the European Commission introduced updated forecast for the growth of the European economy in 2023 and 2024. She expects EU GDP to grow by 1% this year, up from 0.8% in the previous forecast made in February. The forecast for GDP growth in 2024 has increased from 1.6% to 1.7%. “The European economy is doing surprisingly well in adapting to the shocks associated with the pandemic and (the situation in Ukraine.— “b”),” the European Commission commented on these data.
In the first quarter of EU GDP increased by 1.3%. As noted in the European Commission, “this dispelled fears of a recession this winter, which until a few months ago seemed inevitable,” and “poll data suggest, albeit cautiously, that growth should continue in the second quarter.”
At the same time, the European Commission also slightly raised its inflation forecasts. In 2023, it should be 5.8%, in 2024 – 2.8%, previously expected 5.6% and 2.5%, respectively.
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