The European Commission released the 2023 winter economic forecast report on the 13th, raising the economic growth forecast of the EU and the euro area this year to 0.8% and 0.9% respectively. The autumn economic forecast report released earlier predicted that the economy of the European Union and the euro area will grow by 0.3% in 2023. The winter economic forecast report maintains the economic growth expectations of the European Union and the euro area in 2024, at 1.6% and 1.5% respectively. The report also predicts that the EU inflation rate will fall from 9.2% in 2022 to 6.4% in 2023 and 2.8% in 2024; In 2023, the inflation rate in the euro area will fall to 5.6% from 8.4% in 2022, and to 2.5% in 2024. The report points out that the uncertainty facing the European economy remains high. Consumers and enterprises continue to face high energy costs, and core inflation is still rising in January, which will further erode household purchasing power. Due to the persistent inflationary pressure, the European Central Bank will continue to adopt a tightening monetary policy, which will put pressure on business activities and drag down investment. In addition, due to the continued geopolitical tension, energy prices may continue to rise, further exacerbating inflation. The Executive Vice President of the European Commission, Don Brovskis, said that he was optimistic about the economic growth prospects and the decline in inflation this year, but the European economy still faced multiple challenges, especially the uncertainty brought by the Ukrainian crisis. Gentiloni, the member of the European Commission in charge of economic affairs, said that the EU people would still face a difficult period. Under the influence of strong headwinds, economic growth is expected to slow down, and high inflation will still have an impact on purchasing power. (Xinhua News Agency)