Mumbai, Oct. 19 -- International Monetary Fund or IMF noted in a latest update that European economy continues to be affected by continuing war on Ukraine and the prolonged war in the Middle East. Europe has weathered the initial impact of the latter far better than feared. One factor behind this is progress towards the energy transition with the adoption of renewable energy, reducing reliance on imported fossil fuels.
It stated that growth is lower than expected before the war, but not as low as we feared last time around. Headline inflation has risen markedly, but underlying inflationary pressures remain broadly contained so far, but Europe is not yet out of the woods. The prolonged period of high energy prices will continue to weigh on ...