The Economist: Russia’s war in Ukraine ‘has taken $1 trillion off this year’s forecast for global GDP.’

by The Kyiv Independent news desk August 5, 2022 3:53 PM 1 min read

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According to the Economist Intelligence Unit's (EIU) global economic forecast published on Feb. 15, the world’s GDP was expected to increase by 3.9% in 2022, “after a stellar 2021.” However, the EIU, which expects the war in Ukraine to “continue until at least the end of the year,” has revised its global growth estimates down by 1.1 percentage points, to 2.8% year-on-year, which means that Russia’s war in Ukraine “has taken $1 trillion off this year’s forecast for global GDP.”

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