21:55 - 10.08.2026

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August 10, Fineko/abc.az. Triodos Bank has released a study titled "Hot Summer Economy," highlighting the financial impact of record temperatures and prolonged drought across Europe.

According to the analysis, extreme summer weather conditions in 2026 could reduce the EU’s Gross Domestic Product (GDP) by approximately 1% (around €180 billion), effectively erasing the 1.1% economic growth previously projected by the European Commission for this year.

Key Economic Impacts:

• Labor Productivity: Decreased worker output due to high temperatures is expected to cause a 0,6% loss in EU GDP.

• Agriculture: Drought conditions are projected to cut agricultural production in the EU by 3% to 7%.

• Most Affected Nations: France (GDP reduction of 1.4%, leading to an annual economic contraction of 0.6%), alongside Italy, Spain, and Belgium.

Rising food and electricity prices, combined with transport disruptions across road, rail, and inland waterways, are further exacerbating the economic fallout.