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"Economic output in the European Union is forecasted to expand by only 0.2 percent in 2023 as the region battles with an energy crisis and a cost-of-living crisis made worse by the war in Ukraine," the report reads.
The UN believes that this abrupt slowdown follows an unexpectedly strong 2022 growth rate of 3.3%.
According to the paper, "on the back of stronger domestic demand and a more favorable global environment, economic growth is anticipated to increase to 1.6 percent in 2024."
source: un.org
The UN believes that this abrupt slowdown follows an unexpectedly strong 2022 growth rate of 3.3%.
According to the paper, "on the back of stronger domestic demand and a more favorable global environment, economic growth is anticipated to increase to 1.6 percent in 2024."
source: un.org