In a word - for the EU economy, 4% will not be critical losses!
Cool numbers, I just don't know why the news, the individual experiences, the all time high inflation rate and certain basic goods that are nowhere to be found are portraying something very different.
For example I see some industries around EU like most recent news about automotive parts manufacturers are reporting huge drops in their revenue this year and some industries are starting to shut down. UK alone is facing a "cost of living crisis" and the official reports guess a 1.5 million to start living at absolute poverty soon.