Wheat HarvestMOSCOW, 20 Mar. The situation in Ukraine will slow down the recovery of the global economy, weakened after the pandemic, and could change it forever. This warning was issued by the French edition of Le Monde. The Organization for Economic Cooperation and Development (OECD), the newspaper notes, predicts that global GDP growth will decline by 1 percentage point, while inflation will increase by 2.5 percentage points. “This crisis is already manifesting itself in the form of rising prices for energy, food and certain metals,” Le Monde quoted OECD senior economist Lawrence Boone as saying. will be 4.5%, previously decided to cancel the publication of its next forecasts scheduled for early March due to «increasing uncertainty factors.» Le Monde also cites the opinion of the International Monetary Fund, which believes that the Russian special military operation to demilitarize and denazify Ukraine could turn out to be global economy with long-term consequences. «In the longer term, this conflict could fundamentally change the global economic and geopolitical order — if the terms of trade in energy resources change, supply chains are rebuilt, payment networks are divided and countries reconsider the composition of their gold and foreign exchange reserves,» the IMF quotes.
The IMF warned the EU about a deep recession due to anti-Russian sanctionsRussia launched a special military operation on February 24 to demilitarize and denazify Ukraine. The armed forces say they are only targeting military infrastructure and Ukrainian troops. There are casualties on both sides. After that, many Western countries announced large-scale sanctions against Russia, primarily against the banking sector and the supply of high-tech products. In addition, many brands announced the cessation of work in the country. The Kremlin called these measures an economic war, the likes of which have never been seen before. At the same time, the authorities stressed that they were ready for such a development of events and would continue to fulfill social obligations. The Central Bank is taking measures to stabilize the situation on the foreign exchange market. As Prime Minister Mikhail Mishustin said earlier, the government has prepared a plan to counter sanctions, which includes about a hundred initiatives. The amount of its funding will be about a trillion rubles.
