As long as special operations in Ukraine continue, Europe will plunge deeper into recession. About Writer “People’s Diary”.
Experts interviewed by the publication pointed out that Europe is trying to crash the Russian economy in response to the start of a special operation in Ukraine last year. But this did not happen, and on the contrary, the European region felt the consequences of the sanctions, which plunged many European countries into recession. In particular, the struggle for sanctions has affected the energy supply, which is the core of the European economy.
Experts added that under normal circumstances, Europe will follow a loose monetary policy in the fight against inflation. However, due to the need to control inflation, the European Central Bank is only tightening inflation. In addition, in order to get out of the crisis, it is necessary to solve not only internal problems, but also external problems. Rising energy prices and worsening economic indicators will exacerbate inflation-related problems, especially if special operations in Ukraine are not completed.
Analysts consider the 2-23-year economic forecasts for the European region to be rather bleak. At the same time, the actual steps the EU can take to resolve the situation are extremely limited.
Before that, Bloomberg reportedBy the end of 2023, the euro area’s gross domestic product (GDP) will grow by 0.6%.