Ukraine's Economy To Collapse By 45.1% Amid Russia Invasion: World Bank
NDTV
Russia-Ukraine War: Ukraine's economy will collapse by 45.1 percent this year, the bank predicted, far worse than the 10 percent to 35 percent downturn the IMF projected last month.
The World Bank issued dire forecasts for Ukraine as Russia's invasion impacts both the country and its neighbors, warning in a report released Sunday of an even bleaker economic outlook if the conflict drags on.
Ukraine's economy will collapse by 45.1 percent this year, the bank predicted, far worse than the 10 percent to 35 percent downturn the IMF projected last month.
Russia will see an 11.2 percent decline in GDP, and the World Bank said the entire region is suffering economic consequences from the war, which began in late February and has caused more than four million Ukrainians to flee to Poland, Romania and Moldova.
The conflict also has caused prices of grains and energy to soar.
