Washington: Ukraine’s economy 45.1 percent due to war, Russia’s total Domestic production 11.2 per cent World Bank Reported.
Because the Russia-Ukraine war will affect both countries and its neighbors World Bank Released a statement on Sunday. The World Bank has strongly warned Ukraine that if the war continues, it could lead to major economic damage. The entire region is affected by the war, accounting for 4.1 percent of the economies of developing countries in Europe and Central Asia, and 30.7 percent in Eastern Europe alone. Domestic production That will decrease World Bank Predicts. Ukraine’s economy is projected to slow to 45.1 percent this year, 10-35 percent higher than the International Monetary Fund’s forecast last month. Total of Russia Domestic production It is reported to be 11.2 percent lower.
Anna Bjerde, vice president of the World Bank for Europe and Central Asia, told reporters: “Our results are not to be ignored. This danger has come at a time when many countries are slowly recovering. “
Companies based in Washington expect a growth rate of 4.1 percent in Europe and Central Asia this year. This would be a reversal of the three percent growth forecast before the war and twice as bad as the recession triggered by the epidemic in 2020.
Worst case scenario: Ukraine’s economy is under severe pressure from declining government revenues, closed or partially operating businesses, and a severely deteriorating commodity trade. Grain exports and other economic activities in large parts of the country have become impossible due to severe damage to the country’s infrastructure. The region’s economy will shrink by about 9 percent. This is worse than the 2008 economic crisis. This would reduce Russia by 20 percent and Ukraine by 75 percent.
Co-damage: Of Eastern Europe Domestic production Is projected to decline by only 30.7 percent. Before the war it was projected to grow 1.4 percent. The region has also been hit by sanctions imposed on Russia’s ally Polarus in the war. Moldova is going to be one of the most vulnerable countries in this war, as it is the smallest economically dependent country dependent on Ukraine and Russia except for the country closest to the war zone.