The Commission raises its growth estimates: the EU economy accelerates

Once a recession has been avoided, in 2023 GDP is expected to grow by 1 percent in the Union and by 1.1 percent in the euro area. Italy is also resisting well, but there is the unknown Pnrr

The European Union economy has weathered the effects of Russia’s war on Ukraine better than expected, including the energy price crisis, and is on course for a return to normalcy, according to the spring economic forecast released yesterday. by the Commission. The recession was avoided. Growth estimates have been revised upwards with respect to the winter forecast. GDP is expected to grow by 1 percent in the EU and 1.1 percent in the euro area in 2023, before accelerating to 1.7 and 1.6 percent in 2024. Italy is also resisting well, for now.