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The World Bank's report released Sunday provides further details and numbers. In that report the World Bank revised its projection for Armenia's economic growth in 2022 from 5.3% to 1.2%, noting that "the impact of Russia's invasion of Ukraine on Armenia's economy is likely to be notably negative, but the scale remains undetermined."
War usually leads to a shortage in the supply of commodities, which results in higher prices and higher revenues. Regarding supply and demand in terms of economics, profit is the most important end. During war time, "war-stuff" [15] is in high demand, and demands must be met.
Economists commonly use the term recession to mean either a period of two successive calendar quarters each having negative growth [clarification needed] of real gross domestic product [1] [2] [3] —that is, of the total amount of goods and services produced within a country—or that provided by the National Bureau of Economic Research (NBER): "...a significant decline in economic activity ...
In other words, a 1% GDP fiscal consolidation (i.e., austerity) would reduce GDP between 0.9% and 1.7%, thus inflicting far more economic damage than the 0.5 previously estimated in IMF forecasts. [25] In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research.
Brazilian hyperinflation lasted from 1985 (the year when the military dictatorship ended) to 1994, with prices rising by 184,901,570,954.39% (or 1.849 × 10 11 percent; equivalent to a tenfold increase on average a year) in that time [46] due to the uncontrolled printing of money. [citation needed] There were many economic plans that tried to ...
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
10 Romania had a precautionary credit line with €5.0bn available to draw money from if needed, during the period March 2011-June 2013; but entirely avoided to draw on it. [ 244 ] [ 245 ] [ 197 ] [ 246 ] During the period, the World Bank however supported with a transfer of €0.4bn as a DPL3 development loan programme and €0.75bn as results ...