EU, Dombrovskis: “Looking to the future, we expect to return to high gear by the end of the year”
Dear energy, bills rising, geopolitical tensions, Omicron variant And bottlenecks in production: the European commissionea in the winter forecasts has revised downwards the GDP estimates European compared to October, instead raising those of‘inflation.
In particular the GDP growth in the euro area was revised at 4% for this year and the 2.7% for next year, the inflation rate respectively passed to 3.5% and 1.7%. The correction is therefore downward for economic activity in 2022 and upward in 2023: in the autumn, in fact, it estimated, respectively, an increase in the GDP at 4.3% and 2.4%. While as regards the iinflationthe estimate is clearly upward for this year, compared to 2.2% expected in the fall; for 2023 the difference is 0.3 percentage points, in the autumn Brussels estimated 1.4%. The last one ECB forecast in December, it indicated 3.2% for inflation this year, 1.8% for 2023, but is expected to be corrected upwards in March.
In detail, the European commission has also reduced the Italy’s GDP growth estimate this year to 4.1% compared with the autumn estimate of 4.3%; for next year it indicates 2.3%, confirming the previous forecast. Inflation is expected to rise by 3.8% and 1.6% respectively compared to the autumn estimate it indicated 2.1% and 1.4%.
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