Brussels, 4 May (LaPresse) – "The global macroeconomic outlook has weakened due to recent new geopolitical tensions. We are facing an energy shock, a deterioration in growth prospects and significant downside risks." This was stated by the Minister for the Economy, Giancarlo Giorgetti, during the debate on the impact of the crisis in the Middle East on the European economy at the Eurogroup meeting in Brussels. ‘Inflation,’ he added, ‘is set to rise; a monetary tightening could be on the horizon, and structural dependence on energy imports remains high, underscoring the need to accelerate the transition to more secure and sustainable energy sources.’ Giorgetti emphasised that ‘the energy shock caused by the Iranian crisis requires a swift, coordinated and proportionate response from the EU, one that learns from the crisis of 2022–2023’.
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