2 minutes agoWorld Bank: Ukraine's economy will shrink by 45.1%
Periskopi(4 years ago)
(4 years ago)The World Bank says Ukraine's economy will contract by 45.1% this year as a result of the Russian occupation. Businesses in the country have been closed, exports have decreased and most of the country's production capacities have been destroyed, the organisation explained in an assessment of the impact published today. In particular, the closure of sea shipping [...]
Businesses in the country have been closed, exports have decreased and most of the country's production capacities have been destroyed, the organisation explained in an assessment of the impact published today.
In particular, the closure of Black Sea shipping from Ukraine has interrupted 90% of the country's grain exports and half of its total exports, which are expected to have negative impacts across the globe, but especially in the Middle East and North Africa.
Russia's GDP would drop by 11.2% as a result of financial sanctions, the World Bank added.
