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The consequences of the war seem to extend far beyond what can be thought of for Ukraine.
Its economy is projected to halve this year, due to the Russian occupation, which has destroyed factories and large residential buildings, and forced millions to flee the country, according to a World Bank report.
According to him, Ukraine’s economic output is expected to shrink by 45 percent, while the final rate of economic decline will depend on “the duration and intensity of the war.”
“The Russian occupation is dealing a massive blow to Ukraine’s economy and has caused great damage to infrastructure,” said Anna Bjerde, the World Bank’s vice president for Europe and Central Asia.
Russia has destroyed Mariupol, a key Ukrainian port on the Sea of Azov, and severely damaged other major cities, including Kharkiv, Ukraine’s second most populous city. Russia has also bombed airports and railways, while many bridges have been blown up.More than 10 million Ukrainians, or nearly a quarter of the population, are believed to have fled their homes, including more than 4 million who have crossed Ukraine’s borders.
In a separate report, the World Bank said Russia’s economy is expected to shrink by 11 percent this year as a result of Western sanctions over its invasion of Ukraine.
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