Bloomberg: Europe to encounter serious crisis

05.10.2022,15:24


October 5, Fineko/abc.az. "The U.S. will be able to avoid serious economic downturn, while Europe will face absolute recession,” ABC.AZ reports with reference Bloomberg-distributed forecast.

The agency informs that the situation in the EU is aggravated by financial assistance to the population and the private sector because of the energy crisis.

Analysts had previously predicted that the pandemic would affect the U.S., not the European region.

But, the energy crisis turned all forecasts upside down. So, in the eurozone, inflation has reached 10%, which is higher than the 8% threshold in the U.S.

Analysts forecast that this difference will increase even more. The article also reports that the U.S. does not subsidize the population and business. But Europe continues to increase aid.