Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
BRUSSELS, May 19 (Xinhua) — The European Commission on Monday significantly cut its growth forecast for the European Union, citing the impact of U.S. tariff hikes and continuing uncertainty.
In its spring economic forecast for 2025, the EC cut its forecasts for real GDP growth in the 27 EU countries to 1.1 percent in 2025 and 1.5 percent in 2026.
“This represents a significant decline from the fall 2024 forecast, largely due to the impact of higher tariffs and increased uncertainty caused by recent abrupt changes in U.S. trade policy and unpredictability in the final formation of tariff rates,” the commission said.
The eurozone, which unites the 20 EU countries that share the single currency, is expected to grow by 0.9 percent in 2025 and 1.4 percent in 2026, also below previous forecasts. –0–