Conflicts in Ukraine and the Middle East increase risks to the EU economy. This was reported in the autumn economic report. to guess from EK.
As stated in the EC document, Russia’s ongoing special military operation in Ukraine increases geopolitical instability. The worsening situation in the Middle East due to possible disruptions in energy supply also increases risks to EU energy markets.
The European Commission also emphasized that the EU’s economic prospects may be negatively affected by the slowdown in China, the union’s important trading partner. The regulator has increased its assessment of external threats to the European economy due to destabilizing factors in Ukraine and the Middle East.
Before this EC reported On the revision of forecasts for GDP growth in the Russian Federation. According to new data, the European regulator expects Russia’s GDP to grow by 2% compared to the previous forecast; Accordingly, Russia’s GDP is expected to decrease by 0.9% by the end of 2023. Additionally, the EC listed 10 countries: will survive Economic recession in 2023.
steel before known Losses of the Ukrainian economy in 2022.