'Catastrophic' war will shrink Ukraine's economy by 45% and Russia's by 11% this year, World Bank predicts
The"catastrophic" war in Ukraine will cause the country's economy to shrink 45% this year and Russia's to contract 11%, the World Bank has predicted.
The World Bank said Ukrainian GDP — the most common measure of the size of an economy — would likely shrink by 45.1% in 2022. However, it said the forecast was highly uncertain, and could be higher if the war drags on for longer, or lower if the conflict ends soon. "Ukraine needs massive financial support immediately as it struggles to keep its economy going and the government running to support Ukrainian citizens who are suffering and coping with an extreme situation."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
45 Stylish Graduation Day Outfits From Dresses to JumpsuitsShop cute graduation dresses and outfits to wear under your gown, for a graduation party, or for pictures with your guests.
Read more »
Hail, lightning, and gusts to 45 mph are possible into Saturday evening in the Philly regionDaily News | Hail, lightning, and gusts to 45 mph are possible into Saturday evening in the Philly region
Read more »
Wall Street is betting on Russian debtUS banks have left Russia, but that doesn't mean they're done making money off the Kremlin's horrific invasion of Ukraine.
Read more »
11 Unique Engagement Rings To Say “Yes” To In 2022For a ring that feels more personal, truly stands out and expresses your partner's style, look beyond the traditional. Here, 11 highly unique rings to shop Via ForbesVetted
Read more »