14 Hrs
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الراي
EU economy may slow this summer
Europe experienced a heatwave and severe drought this summer, which could lead to a significant slowdown in the European Union's economic growth. It is estimated that the gross domestic product may decline by about 1%, amounting to losses of approximately 180 billion euros, due to decreased labor productivity and worsening issues such as rising food prices, increased electricity costs, and the suspension of inland land and sea transportation. Forecasts indicate that France will be the hardest hit, with a loss of nearly 1.4% of its GDP, while Italy, Spain, and Belgium will also be noticeably affected. Poland, on the other hand, is expected to be less impacted. Overall, economic growth for the European Union is projected to range between 0.9% and 1.1%.
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