Investment Report 2022/2023: Resilience and renewal in Europe – Chapter 3

About the Economics Department of the EIB The mission of the EIB Economics Department is to provide economic analyses and studies to support the Bank in its operations and to help define its positioning, strategy and policy. [...] Without policy support and with no change in capital ratios since the global financial crisis, the total loans issued from the start of the crisis until the end of 2023 would be almost 4% lower than in the three-year period before the pandemic. [...] As the energy shock persists in the first and second year, As the energy shock persists in the first and second year and profit deviates from the baseline the same amount for both the dynamic adjustment is not taken into consideration, profit years. [...] the consequences of a halt in exports and the increase in the energy prices seen since 2021 are explored in Figure 22.14 energy use accounts for 7% of the total output of the eU economy, meaning that the overall energy price increase of 80% will lead to a 6% decline in the value added by firms across the european Union. [...] The y-axis reflects the increase in the share of firms at risk of losing money, insolvency or liquidity problems, rescaled by the minimum and the maximum.