Economic Recession in EU countries – information in the report of the European Commission Economic recession in EU countries

Brussels,

Russia invaded Ukraine last February. While the international community strongly condemned the attack, the European Union imposed unprecedented economic sanctions on Russia. As a result, there has been a serious energy crisis in the EU countries.

However, in a report published by the European Commission, it has been reported that due to the increasing instability and inflation in the EU countries this winter, a severe economic recession may occur.

As a result, there may be a decrease in production in industrial companies and an impact on the international trade environment, the statement said. And the EU’s GDP is expected to reach around 3.3 percent this year.

It is predicted that the economy will further decline towards the end of this year and the same trend will continue in the first quarter of next year. Similarly, inflation in the European Union will reach 7 percent by 2023, according to the report.


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