UP

The war in Ukraine could lead to a global recession

Home page World
12 Punto 14 Punto 16 Punto 18 Punto
The war in Ukraine could lead to a global recession

The Russia-Ukraine war and its impact on food and energy prices and fertilizers could lead to a global recession.

Axar.az reports the statement came from World Bank President David Malpass.

"If we look at global GDP, it's hard to understand how we can avoid a recession now," Malpass said.

He noted that the economies of Ukraine and Russia would shrink significantly, while growth will slow in Europe, China, and the United States.

"Developing countries have suffered the most from fertilizer, food, and energy shortages. A doubling of energy prices is enough for a recession.

Date
2022.05.26 / 14:12
Author
Zuleykha Aghasieva
See also

Explosions heard in Iran’s Bandar Abbas, Konarak and Ahvaz

Ukraine's defense minister resigns

EU fails to reach deal on 21st Russia sanctions package

CENTCOM announces new wave of strikes against Iran

Ghalibaf says Iran must fight while pursuing diplomacy

Romania risks losing €4.5bn in EU recovery funds

South Korean President says he no longer owns a home

Russian-born investor to lead $200m US enterprise fund

Berdimuhamedov to pay official visit to Georgia

Zelensky: Ukraine to step up diplomatic efforts

Latest
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla