Russia’s war to shrink Ukraine economy 45%, World Bank says
Headline from WTOP Washington DC, on the newest of 2 developments
LONDON (AP) — The World Bank says Ukraine's economy will shrink by 45.1% this year because of Russia's invasion, which has shut down half of the country's businesses, choked off imports and exports…
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War to slash Ukraine's GDP output by over 45%, World Bank forecasts
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Russia’s war to shrink Ukraine economy 45%, World Bank says
LONDON (AP) — The World Bank says Ukraine's economy will shrink by 45.1% this year because of Russia's invasion, which has shut down half of the country's businesses, choked off imports and exports…
The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports,
As Russia's war in Ukraine continues unabated, Ukraine's economy is taking a major hit, says the World Bank's Anna Bjerde. But many other regions are also being affected amid supply chain disruptions.
Meanwhile, the Russian economy is expected to contract by some 11% this year as a result of sanctions, and several other countries in the region are projected to fall into recession.
Ukraine's economic output will likely contract by a staggering 45.1% this year as Russia's invasion has shuttered businesses, slashed exports and rendered economic activity impossible in large swaths of the country, the World Bank said on Sunday.
By Michelle Toh, CNN Business Ukraine could lose almost half of its economy this year as a result of Russia’s invasion, according to the World Bank. In a report published Sunday, the bank estimated that the country’s GDP could decline by 45.
Unprecedented sanctions imposed by Western allies in response to the war, meanwhile, are plunging Russia into a deep recession, lopping off more than a tenth of its economic growth, the World Bank reported.
