EU cuts eurozone GDP forecast, sees 6.1% inflation

In the first forecast since the outbreak of war in Ukraine, the European Commission will say gross domestic product will expand 2.7% in 2022 and 2.3% in 2023, according to a draft seen by Bloomberg.

BRUSSELS: The European Union (EU) cut its prediction for 2022 eurozone growth and almost doubled its estimate for inflation, according to new draft projections.

In the first forecast since the outbreak of war in Ukraine, the European Commission will say gross domestic product will expand 2.7% in 2022 and 2.3% in 2023, according to a draft seen by Bloomberg.