War crushes Ukrainian economy, world bank: GDP -45% in 2022

The war in Ukraine and the sanctions against Russia are affecting economies around the world. The major burden at the macroeconomic level will have to be borne by emerging markets and developing countries in the region of Europe and Central Asia according to the latest economic update from the World Bank. According to estimates, Ukraine’s GDP in particular will decline by 45.1% in 2022, while next year the country’s economy is expected to recover but only by 2.1%, according to the report.