Ukraine’s economy could shrink by up to 35% in 2022.
Tuesday, March 22, 2022

Ukraine’s economy could shrink by up to 35% in 2022.

 According to the IMF, Ukraine’s war-ravaged economy could shrink by up to 35% this year if Russia’s invasion becomes a protracted conflict, the International Monetary Fund has warned. In an initial assessment, the IMF said the loss of life, damage to critical infrastructure, trade disruption, and an outflow of refugees would lead to the gross domestic product falling by a minimum of 10% in 2022. Based on similar military conflicts in the last decade, the IMF has a methodology for calculation based on previous losses, according to which Ukraine might lose between 25% and 35% of their GDP, but this is based on the current situation and the dynamics of the last few days, when the highest shelling intensity has not been observed.

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