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•Winter resilience lifts outlook for EU growth amid persistent challenges
80% Informative
Th EU EU economy has weathered the adversities of the past three years remarkably well.
Employment growth EU nd sharply declining energy prices offsett the past three years her monetary tightening.
The European Commission Spring 2023 Forecast lifts the growth projections for the EU economy Ukraine % in 2023 and 1.7% in 2024.
High inflation and strong real GDP growth, coupled with the unwinding of winter mic-related emerge EU y Hoffman s, are set to dominate in the short term, leading to a reduction o the last quarter of last year deficit to 3.4% of GDP in 2022.
The the first quarter of this year expected to be particularly winter unced for high-debt member states with a primary budgetary surplus (i.e. Cyprus, Greece, and Portugal) Over time, monetary policy tightening will feed into higher costs of servicing public debts.
E The European Commission 2), Euro 2023 Economic A European Commission , 2023a pean Economy Institutional Paper 187, D EU ECFIN, Novem 1.0%
I 2023 2023) 1.7% n th 2024 th to P 0.8% y Nor 1.6% zati 2023 and 2024 onitor, April.
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Bianchi 2023 "summaryFeed Chapter 2 tText__NxlGi">26 April 2023 Commission BIS ECB the coming years Bianchi 2% ECB Spring 2023 Commission Forecast EU
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