The United Nations (UN) said this Wednesday (18) that, amid the massive destruction of infrastructure, population flight and interruption of activities, the Ukrainian economy is expected to contract between 30% and 50% in 2022. Russia is expected to contract by about 10% this year, hit by trade and financial sanctions.
In a report on the outlook for the global economy, the UN highlights that the war in Ukraine has overturned the fragile recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, pushing up food and commodity prices and exacerbating inflationary pressures around the world.
“The war in Ukraine has overturned a fragile economic recovery from the pandemic. The outlook for global economic growth has changed dramatically since our last forecast in January, when we had expected growth of 4% in 2002. We are now revising that forecast for global growth to just 3.1%,” said Shantanu Mukherjee, director of the Department of Economic Affairs. Economic and Social Organizations (DESA).
“This deterioration in growth prospects is widespread, including for the world’s largest economies, the United States, the European Union, China and many developing countries,” he added.
Source: CNN Brasil