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Economic Forecast - EU cuts 2026 growth forecast as Strait of Hormuz crisis pushes inflation up

21-05-2026 02:41

The EU has downgraded its 2026 economic growth forecast after the Strait of Hormuz crisis sent energy prices sharply higher earlier this year. With no end to the conflict in sight, rising energy costs ...

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It affects things like pay increases for workers and the amount of tax the government raises to pay for services.

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