– The Bank of Italy forecasts that Italy’s gross domestic product will expand by 1% in 2026, surpassing earlier predictions. Growth is expected to slow to 0.7% in 2027, then slightly increase to 0.8% in 2028. The central bank disclosed

– European Union borrowing could hit approximately €1 trillion by the end of 2027, according to the European Court of Auditors in its latest annual report. As of the end of 2025, outstanding EU debt increased over 20% to €738.9

– The World Trade Organization has increased its 2026 forecast for worldwide merchandise trade growth to 3.9 percent. This is a significant rise from the 1.9 percent estimate issued in March. The WTO explained that stronger trade figures in the

– France and Germany are urging the European Commission to develop a swift-response mechanism for tackling serious market disruptions. French President Emmanuel Macron and German Chancellor Friedrich Merz submitted their proposal to Commission President Ursula von der Leyen. Their joint

– On October 5, the UK five-year fixed mortgage average rate reached 6.00%, a level last observed around three years ago. The typical two-year fixed rate increased to 5.98%, hitting its highest point since mid-December 2023. Moneyfacts reported this rise

– Russia anticipates its 2026 grain harvest will reach approximately 140 million tonnes as farmers conclude the season’s final phase. Deputy Prime Minister Dmitry Patrushev reported that farmers have already gathered over 126 million tonnes of grain. By October 2,

– Euro area unemployment remained steady at 6.4% in August 2026, matching July’s rate, reports Eurostat. The figure was 6.3% in August 2025. The European Union also kept its unemployment rate at 6.1% for the second consecutive month, compared to

– European Union house prices increased by 4.7% in the second quarter of 2026 compared to the same period last year. Rents also rose by 3.0%, pushing upward trends across the entire bloc. Eurostat noted that house prices grew by

– Russia has established a goal of producing 662 million tonnes of coal annually by 2050 as part of a newly approved industry development plan. This target is included in Russia’s revised coal expansion strategy. In 2024, coal output was

Moody Ratings has reaffirmed the European Union top AAA credit rating with a stable outlook. This confirms that the 27-nation bloc continues to hold the highest level of creditworthiness. Its strength comes from a solid institutional framework and strong fiscal

– The Portuguese Government has officially sanctioned a capital investment of around 420 million euros aimed at broadening municipal light rail and bus rapid transit systems across the northern metropolitan area. This government decision permits extending the Porto Metro network

As maritime authorities observe World Maritime Day, global shipping networks face extraordinary operational threats. The International Maritime Organization in London emphasized that wider geopolitical tensions directly impact commercial shipping. These tensions have disrupted vital supply chains and increased dangers for

– In 2026, higher road fuel prices are projected to increase transport expenses for the European Union by an estimated €53 billion. The estimate was published by Transport & Environment on September 23 after reviewing data from the past 28

– OECD has upgraded its 2026 global growth forecast to 2.9%, citing the resilience of the world economy. The estimate is higher than the 2.8% forecast in the organization’s June report. However, the OECD has lowered its 2027 forecast to

– Russia’s non-resource, non-energy exports surpassed $96 billion in the period from January to July 2026, representing an 8% increase compared to the same months last year. First Deputy Prime Minister Denis Manturov announced this year-on-year rise in his latest

– During the second quarter of 2026, European Union saw a 55.8% increase in the value of petroleum oil imports, despite volumes remaining relatively stable. Eurostat reported that the import volume reached 36.7 million tonnes, which is a 1.2% rise