The euro area’s economy has now registered two consecutive quarters of contraction
The Eurozone's economy contracted in the first quarter of 2023, the statistics agency Eurostat revealed on Thursday. This marks the second consecutive quarter of contraction, thus meeting the technical definition of a recession.
The announcement came following a downward revision of growth in the 20 countries that use the euro as their currency for the last quarter of 2022 and first quarter of this year.
Gross domestic product (GDP) in the Eurozone shrank by 0.1% between January and March, compared to the fourth quarter of 2022, Eurostat said in a statement.
The agency attributed the downturn to a slump in both government and household spending and to revised data from Germany, which showed that the Eurozone’s largest economy slid into a recession at the beginning of the year.
Household consumption in the euro area dropped by 0.3% in the first quarter, highlighting the pressures that consumers are facing amid soaring prices, the report said.
“We expect growth to resume from 2Q23, but stay subdued through 2023, as headwinds from tighter financing conditions and faltering global demand keep a lid on activity,” Bloomberg’s Maeva Cousin and David Powell noted. .....more below
https://www.rt.com/business/577713-eurozone-enters-recession/
Ghana is interested in purchasing a floating nuclear power plant from Russia, Ghanaian Ambassador to Russian Koma Steem Jehu-Appiah told Sputnik.
"I know that our minister of energy was here last year and signed a corresponding agreement. I think this is innovative, and in a conversation with the minister of energy, he said that the country is interested.
So, Ghana could purchase such a nuclear power plant," the diplomat said when asked about the possibility of Ghana purchasing a floating nuclear power plant.
Russia and Ghana began cooperation in the field of nuclear energy after signing an intergovernmental agreement in 2015.
The agreement outlined plans for joint work in the areas of training specialists, building nuclear power plants and related infrastructure, and providing maintenance services. In October 2023, representatives of Rosatom met with the Ghanaian Ministry of Energy in Cape Town. At the meeting, Russia proposed using floating nuclear power plants to supply power to ...
