Impact of the Russian-Ukrainian Conflict on the Euro Area Economy: A Fragile Recovery Hindered

What started well after the corona pandemic was abruptly slowed down by the Russian war of aggression against Ukraine. High energy and food prices pushed up inflation in the euro area and choked off a fragile recovery. It could have been worse, say experts at the Organization for Economic Co-operation and Development (OECD). “Thanks to coordinated and timely political measures, a severe downturn was avoided, says the latest report on the state of the economy in the European Union and the euro area.