This audio is created with AI assistance
The Organisation for Economic Co-operation and Development has projected global economic growth to slow to just 2.2% in 2023, which is $2.8 trillion lower than the OECD forecast before Russia's full-scale invasion of Ukraine.
The war has increased energy prices and the cost of living, especially in Europe, causing inflation to reach "levels not seen since the 1980s," the OECD reported on Sept. 26.
"The global economy has lost momentum in the wake of Russia's unprovoked, unjustifiable and illegal war of aggression against Ukraine. GDP growth has stalled in many economies, and economic indicators point to an extended slowdown," OECD Secretary-General Mathias Cormann said.
Three years of reporting, funded by our readers.
Millions read the Kyiv Independent, but only one in 10,000 readers makes a financial contribution. Thanks to our community we've been able to keep our reporting free and accessible to everyone. For our third birthday, we're looking for 1,000 new members to help fund our mission and to help us prepare for what 2025 might bring.
Three years. Millions of readers. All thanks to 12,000 supporters.
It’s thanks to readers like you that we can celebrate another birthday this November. We’re looking for another 1,000 members to help fund our mission, keep our journalism accessible for all, and prepare for whatever 2025 might bring. Consider gifting a membership today or help us spread the word.
(Updated: )
