Page 29 - Anna Bjerde News Today

The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure

The war is now in its seventh week, with Russian forces now concentrating their offensive on eastern Ukraine, after retreating from the capital Kiev.

The invasion which started on 24 February has resulted in half of the countrys businesses shutting down and the other half operating below capacity as well as the destruction of a vast amount of infrastructure.

The World Bank issued dire forecasts for Ukraine as Russia's invasion impacts both the country and its neighbors, warning in a report released Sunday of an even bleaker economic outlook if the conflict drags on.

WASHINGTON, April 11 — The World Bank issued dire forecasts for Ukraine as Russia’s invasion impacts both the country and its neighbours, warning in a report released yesterday of an even bleaker economic outlook if the conflict drags on. Ukraine’s economy will collapse by 45.1 per cent this...

Ukraine's economic output will likely contract by a staggering 45.1% this year as Russia's invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday.

Besides Russia and Ukraine, the economies of Belarus, Kyrgyzstan, Tajikistan and Moldova are also forecast to shrink in 2022.

The World Bank issued dire forecasts for Ukraine as Russia's invasion impacts both the country and its neighbors, warning in a report released Sunday of an even bleaker economic outlook if the conflict drags on

Russia’s war in Ukraine is sparking a global economic crisis, with analysts predicting that the costs in Europe could exceed those of the COVID-19 Pandemic

Meanwhile, the Russian economy is expected to contract by some 11% this year as a result of sanctions, and several other countries in the region are projected to fall into recession.