HM Wilkins Imperial Warns Energy Crisis Could Mean Recession for Euro

Zone

HM Wilkins Imperial analysts have warned that reduction of gas supplies to Europe could cause the
region to slide into a recession in 2023.

Hong Kong, Hong Kong S.A.R. August 01, 2022 --(PR.com)-- A recent report by Asia-Pacific-based
investment house, HM Wilkins Imperial, revealed that the Euro zone economy is likely to slip into a
recession next year as Russia continues to cut gas supplies to the region.

The report showed that even though the euro zone beat economists’ estimates for growth in the second
quarter, economic growth would likely be severely impeded by a complete shut off of gas supplies by
Russia.

A major Russian gas supplier has already cut supplies of gas to one fifth of its full capacity in recent
weeks, causing disruptions in supply to several European countries.

The report by HM Wilkins Imperial pointed to various other factors apart from the energy crisis that will
likely also contribute to the increased likelihood of a recession.

“Inflation in the region has been soaring in recent months and will likely continue to rise in the coming
quarters,” says Mr. Chang Chin Lung, Chief Executive Officer at HM Wilkins Imperial.

“In spite of the better-than-expected growth for the second quarter of this year, we must remain cognizant
of the other challenges facing the euro zone economy,” said Mr. Chang Chin Lung.

HM Wilkins Imperial analysts stated that supply chain disruptions would continue to pose a significant
challenge for the growth of the Euro Zone.

The European Commission believes a recession could occur as early as this year given the challenges
facing the region’s economy.

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Contact Information:
HM Wilkins Imperial
Ryo Inoue
+85258034313
Contact via Email
www.hmwilkinsimperial.com

Online Version of Press Release:

https://www.pr.com/press-release/866430

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