EU finance ministers meet on taxation and banking crisis

The EU finance ministers met on taxation and banking crisis in Brussels on Tuesday.The European economy expanded less than previously thought in the first quarter of 2023, the EU statistics agency said Tuesday, revising its previous figure.

The full 27-member EU grew by 0.2 percent instead of 0.3 percent in the first three months of the year compared with the previous period, Euro stat said after compiling revised data.

The EU executive also raised its growth forecast for the bloc as a whole for 2023, but it remains lower than the euro zone at around one percent.The commission also revised its euro zone inflation forecast, predicting it will reach 5.8 percent this year compared to 5.6 percent in the previous outlook.