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Economy commissioner Paolo Gentiloni said he was 'proud that the European economy is showing such remarkable resilience' (Photo: European Commission)

EU: Wage-earners will 'bear brunt' of inflation in 2023

The European Commission raised its economic growth forecast on Monday (15 May), saying that lower energy prices and a strong labour market would help the bloc narrowly evade a recession.

The growth outlook for this year is lifted to 1.0 percent in the Spring Economic Forecast for 2023, slightly above the 0.8 percent projected in February.

"As lower energy prices continue to provide relief to hous...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

Economy commissioner Paolo Gentiloni said he was 'proud that the European economy is showing such remarkable resilience' (Photo: European Commission)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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