New York-Sana
More than a third of European CEOs expect high energy prices to continue due to the fallout from Western sanctions imposed on Russia over its own military operation in Ukraine.
According to Bloomberg Agency, a survey conducted by the Conference Board Research Institute of a number of large companies with combined revenues of more than two trillion euros showed that 61 percent of CEOs of those companies believe that the economic conditions in Europe will deteriorate during the next 6 months.
40% of CEOs expect energy prices to continue to rise until 2024, when prices will return to their pre-coronavirus levels.
The sanctions imposed by Western countries on Russia as a result of its special military operation in Ukraine led to a double rise in energy prices, which increased pressures on the prospects for economic growth in Europe, especially with the disruption of supply chains.
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