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The Russian invasion of Ukraine will make economic growth in the eurozone slower and inflation higher

The Russian invasion of Ukraine will make economic growth in the eurozone slower and inflation higher

“The Russian invasion of Ukraine is a watershed for Europe” said Christine Lagarde, President of the ECB, at the press conference on monetary policy. “The Russia-Ukraine war will have a material impact on economic activity and inflation through higher energy and commodity prices, the disruption of international commerce and weaker confidence.” Owing to the war in Ukraine, the ECB revised the projections of the eurozone GDP growth from 4.2% to 3.7% and inflation from 3.2% to 5.1% in 2022.

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