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The world was clinging to a little hope at the beginning of 2022, taking tentative steps out of the COVID-19 pandemic and towards economic recovery, when the war in Ukraine shook the world.
Early data estimates suggest that 90 percent of the Ukrainian population could be facing poverty and extreme economic vulnerability should the war deepen, setting the country – and the region – back decades and leaving deep social and economic scars for generations to come.
The report indicates that the country’s GDP is likely to contract by 20 percent to US$16 billion from a 2020 nominal figure of US$20 billion. Five percent of GDP is lost when women face restrictions to work.