There will be a sharp economic downturn in Russia and Ukraine
The economic downturn in Russia is projected at 8.9 percent.
The World Bank forecasts that Ukraine’s gross domestic product (GDP) will fall by 45% in 2022.
RFE / RL Russia of service The economic downturn in Russia will also reach 8.9 percent, he wrote on June 8.
The World Bank’s report on the prospects of the global economy says that Russia’s aggression against Ukraine Of Ukraine It has shaken the industrial sector, and the collapse of this infrastructure has led to a sharp decline in population.
“In turn, the sanctions imposed on Russia after its attack on Ukraine and the mass exodus of foreign companies from Russia have hit the country’s economy hard, but revenues from energy exports still allow the government to finance budget expenditures,” the statement said.
Russia’s attack on Ukraine also has a negative impact on the global economy, the report said.
The World Bank has cut its global economic growth forecast by more than half to 1.2 percent. “The world is entering a period of long-term weak economic growth and rising inflation,” the World Bank said.
As a result of Russia’s attack on Ukraine Ukraine and problems with grain and vegetable oil exports from Russia have pushed up the price of these goods and increased inflation.
Russia attacked Ukraine on February 24. During this time, a number of cities and towns in the country were destroyed, thousands of people killed Millions of people have fled the country.
The international community condemns Russia’s move and calls for the withdrawal of its troops from Ukraine.