The European Commission released its 2023 summer economic outlook report on the 11th, deciding to lower the economic growth expectations of the EU and the eurozone for the next two years. The report shows that the European Commission has lowered the EU's economic growth forecast for 2023 from 1.0% predicted in the spring outlook report to 0.8%, and the economic growth forecast for 2024 has been lowered from 1.7% to 1.4%; Lower the economic growth forecast for the eurozone in 2023 from 1.1% to 0.8%, and in 2024 from 1.6% to 1.3%. The report predicts that the EU's inflation rate will drop to 6.5% this year and 3.2% next year; The inflation rate in the eurozone is 5.6% this year and 2.9% next year. The report states that the latest data indicates that economic activity in the European Union was suppressed in the first half of 2023. The prices of most goods and services remain high and are still rising, leading to weak domestic demand. Survey indicators show that economic activity will continue to slow down in the summer and coming months, with industry continuing to weaken and the service industry weakening. But with inflation easing, the labor market and real income gradually recovering, it is expected that the EU economy will rebound moderately next year. The Executive Vice President of the European Commission, Dong Brovskis, said that the current economic uncertainty is high and various risks need to be closely monitored. Implementing reforms and investments under the EU economic recovery plan is key to keeping the EU economy on track. European Commission member in charge of economic affairs, Gentiloni, said that the multiple unfavorable factors facing the EU economy this year have led to weaker growth momentum than the spring forecast, and prudent and investment friendly fiscal policies should be implemented. (New News Agency)