Uncategorized

OECD: Russia's war in Ukraine will cause $2.8 trillion in global economic losses

0 min read

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.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

Andrii Parubii, a Ukrainian politician who previously served as the parliament speaker and played a prominent role in the EuroMaidan Revolution, was shot dead in Lviv on Aug. 30.

Video

What’s it really like to live in a Ukrainian village during wartime? Masha Lavrova leaves the capital, Kyiv, and moves to a village to explore authentic Ukrainian rural life. She tries to survive for a month on a $500 budget — the average Ukrainian salary. Follow Masha’s bumpy journey to her new home in a village in Kyiv Oblast in the first episode.

Show More