UN expects weak economic output growth in EU

"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