The war between Russia and Ukraine has led to an increase in energy prices, the global economy will lose up to $2.8 trillion.
Russia’s invasion of Ukraine will cost the global economy $2.8 trillion by the end of next year, writes The Wall Street Journal.
function news4513211() {
$.get(‘//’ + window.location.host + ‘/ajax/module.aspx?spm_id=444&id=4513211&lang=2&IsAjax=true’, function (data) { $(‘#nk4513211’).html(data); });
}
news4513211();
In particular, the war unleashed by the Russian Federation led to a jump in energy prices, which led to a decrease in household incomes and undermined the confidence of the business community. The war disrupted supply chains, causing shortages of food and other essential needs.
It is noted that the West fears that the mobilization of the Russian Federation and “referendums” in the occupied territories of Ukraine could drag out wars for months or years.
According to OECD forecasts, the world economy should grow by 3% this year and by 2.2% in 2023. Before the war, growth of 4.5% was expected this year and 3.2% in 2023. So, the war in Ukraine will cost the world an amount equal to the output of the French economy in these two years.
Meanwhile, the Russian government, according to media reports, is preparing for the collapse of the country’s economy until 2030 due to Western sanctions.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.