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The war in Ukraine has also resulted in significant loss of human capital, [6] destruction of agricultural trading infrastructure, [7] huge damage to production capacity, [8] including through the loss of electricity, [9] [10] and a reduction in private consumption of more than a third relative to pre-war levels. [11]
NIESR research shows the crisis could erase $1tn off the world GDP by 2023, with UK GDP growth estimated to decline to 4% in this year.
Russia’s military incursion into Ukraine and the threat of a wider war are pushing energy prices higher, threatening the U.S. economic recovery while limiting the options available to the ...
Federal Reserve Chair Jerome Powell warned Thursday that Russia's invasion of Ukraine, which has already driven up oil prices, will likely further magnify the high inflation that has engulfed the ...
Before the invasion, Ukraine accounted for 11.5% of the world's wheat crop market, and contributed 17% of the world's corn crop export market, and the invasion caused wheat and corn from Ukraine unable to reach international market, causing shortages, and result in dramatic rise in prices, [113] that exacerbated to foodstuffs and biodiesel prices.
The global food and energy price surges that have resulted from the war in Ukraine could push more than 71 people worldwide into poverty, according to a new report from the UN Development Program.
As the Russian invasion of Ukraine continues, local agriculture experts share their experiences and what people might expect to see. War in Ukraine drives inflation, already stirred by coronavirus ...
Ukraine moved up seven positions in the annual World Bank Doing Business 2020 report. [101] Prudent macroeconomic management helped reduce inflation and interest rates in 2019. Inflation eased to 4.1% at the end of 2019 and 2.4% in February 2020. [citation needed] In 2020, Ukraine's GDP fell by 4.4%, due to the COVID-19 pandemic. [102]