Economy

‘Inflation peak is now behind us’ as EU to avoid technical recession

Paschal Donohoe, the Minister for Public Expenditure and president of the Eurogroup, is in Brussels today to chair the meeting of Eurogroup finance ministers, where the European Commission’s Winter Forecast will be discussed

Paschal Donohoe is in Brussels today to chair the meeting of Eurogroup finance ministers. Picture: Gareth Chaney/Collins Photos

The European Union will “narrowly avoid technical recession” in the first quarter of the year, while the “inflation peak is now behind us”, according to new European Commission projections.

Paschal Donohoe, the Minister for Public Expenditure and president of the Eurogroup, is in Brussels today to chair the meeting of Eurogroup finance ministers, where the European Commission’s Winter Forecast will be discussed.

Speaking ahead of the meeting, Donohoe said today’s discussion on the Winter Forecast, ...