Projections on GDP Growth and Inflation do not bring optimism. Is the European Economy under pressure?

As the war in Ukraine started in February, the macroeconomic outlook in the Euro Area became more uncertain than it was during the pandemic, mainly due to spikes in energy prices, but also due to trade disruption caused by the new conflict.
At the end of 2021, as per ECB projections, it was estimated a real GDP growth of 4.2% and a rate of inflation of 3.2% for year 2022. On top of that, the banking sector witnessed a rebound in its performance, having a strong prudential position improved during pandemic and overall positive lending dynamics.
In this alert you will read more about how ECB revised the GDP growth and rate of inflation for the Euro area and how the projections look like for Romania as presented by the National Bank of Romania.