European Economic Forecast. Summer 2022

Author (Corporate)
Series Title
Series Details Number 183
Publication Date July 2022
ISBN 978-92-76-43951-6
ISSN 2443-8014
EC KC-BC-22-020-EN-N
Content Type


The European Commission published on 14 July 2022 its Summer economic forecast for the European Union (EU) and the Eurozone.

Further information:

The Summer 2022 Economic Forecast shows that the war in Ukraine continue to negatively affect the economy of the European Union (EU), setting it on a path of lower growth and higher inflation compared to the previous forecast.

This forecast projects that the EU economy would grow by 2.7% in 2022 and 1.5% in 2023. Growth in the euro area was expected at 2.6% in 2022, moderating to 1.4% in 2023. Annual average inflation was projected to peak at historical highs in 2022, at 7.6% in the euro area and 8.3% in the EU, before easing in 2023 to 4.0% and 4.6%, respectively.

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Bloomberg, 14/07/2022: Europe’s Price Shock Will Last Longer With Less Growth, EU Says
Reuters, 14/07/2022: EU cuts euro zone growth forecasts, revises up inflation outlook
EurActiv, 14/07/2022: Russian aggression sees euro tumble along with EU growth forecasts
Radio Prague, 14/07/2022: European Commission forecast raises Czech economic growth prediction
RTÉ News, 14/07/2022: EU cuts euro zone and Irish growth forecasts, revises up inflation outlook
The Sofia Globe, 14/07/2022: EU summer forecast predicts Bulgaria’s economy growing by 2.8% in 2022
Deutsche Welle, 14/07/2022: EU expects Russia's invasion of Ukraine to push inflation to record high
The Guardian, 14/07/2022: Russian war slowing growth and hiking inflation, European Commission warns
Associated Press (AP News), 14/07/2022: Russia’s war to keep hitting EU economy, push up inflation
Le Monde, 15/07/2022: European Commission announces gloomy economic forecast

European Commission: Economic Forecasts: European Economic Forecast - Summer 2022: Russia’s war worsens the outlook
European Commission: Press Release, 14/07/2022: Summer 2022 Economic Forecast: Russia's war worsens the outlook
European Commission: Remarks by Commissioner Gentiloni at the Summer 2022 Economic Forecast press conference (14 July 2022)

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