The UN gives an estimate for the cost of restoring Ukraine and the economic forecast for the world economy.
The UN has estimated that the amount needed to restore Ukraine’s infrastructure is already $411B. The organization’s report notes that despite financial assistance from international organizations, Ukraine’s economy will stagnate in 2023.
Experts recall that Ukraine’s economy lost most of its industrial capacity and energy infrastructure last year and shrank by 29.1%. “Long-term prospects depend on the duration and intensity of the war and the country’s ability to finance recovery“, added the UN.
At the same time, the forecast for the world economy is also not encouraging. This is because it faces a long period of low growth, and the prospects for sustainable recovery remain unclear. The reasons are the pandemic, the war in Ukraine, and the impact of climate change.
The global economy is forecast to grow by 2.3% in 2023 and 2.5% in 2024. The forecast for the US is 1.1%, and for the EU is 0.9%. Lifting quarantine restrictions will contribute to the 5.3% growth of China’s GDP.